Griffon Corporation $GFF Shares Sold by UBS Group AG

UBS Group AG lowered its stake in shares of Griffon Corporation (NYSE:GFF) by 49.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,898 shares of the conglomerate’s stock after selling 71,503 shares during the quarter. UBS Group AG owned about 0.15% of Griffon worth $5,295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GFF. Royal Bank of Canada increased its stake in shares of Griffon by 20.2% during the 1st quarter. Royal Bank of Canada now owns 94,955 shares of the conglomerate’s stock valued at $6,790,000 after acquiring an additional 15,925 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Griffon by 9.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate’s stock valued at $1,676,000 after acquiring an additional 2,047 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Griffon during the 1st quarter valued at about $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Griffon by 21.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,035 shares of the conglomerate’s stock valued at $6,080,000 after acquiring an additional 14,764 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Griffon during the 1st quarter valued at about $57,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GFF. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Robert W. Baird set a $115.00 target price on Griffon in a report on Friday, May 8th. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Stephens boosted their target price on Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Griffon Stock Up 1.6%

NYSE GFF opened at $84.71 on Friday. The stock has a market cap of $3.89 billion, a PE ratio of 651.69, a P/E/G ratio of 1.39 and a beta of 1.46. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $97.58. The business has a 50 day moving average price of $80.37 and a two-hundred day moving average price of $79.67. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77.

Griffon (NYSE:GFF) last released its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.Griffon’s quarterly revenue was down 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. As a group, sell-side analysts predict that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 29th. Griffon’s dividend payout ratio is currently 676.92%.

Griffon Profile

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.