Griffon Corporation (GFF) Stake Increased by Royce & Associates LP
Royce & Associates LP increased its position in shares of Griffon Corporation (NYSE:GFF) by 22.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 760,316 shares of the conglomerate’s stock after purchasing an additional 141,400 shares during the period. Royce & Associates LP owned 1.61% of Griffon worth $16,879,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in Griffon by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,109 shares of the conglomerate’s stock valued at $156,000 after acquiring an additional 1,066 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Griffon by 75.4% during the second quarter. BNP Paribas Arbitrage SA now owns 13,197 shares of the conglomerate’s stock valued at $290,000 after acquiring an additional 5,673 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Griffon during the second quarter valued at $297,000. Crossmark Global Holdings Inc. purchased a new position in Griffon during the third quarter valued at $346,000. Finally, Voya Investment Management LLC grew its stake in Griffon by 9.3% during the second quarter. Voya Investment Management LLC now owns 17,750 shares of the conglomerate’s stock valued at $390,000 after acquiring an additional 1,511 shares in the last quarter. Hedge funds and other institutional investors own 67.57% of the company’s stock.
In related news, Director Louis J. Grabowsky bought 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was bought at an average cost of $23.30 per share, with a total value of $256,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 26.40% of the company’s stock.
Griffon Corporation (NYSE GFF) traded down $0.80 on Tuesday, reaching $21.05. 85,900 shares of the company traded hands, compared to its average volume of 119,689. The stock has a market capitalization of $1,031.75, a PE ratio of 25.11 and a beta of 1.42. Griffon Corporation has a 52 week low of $17.65 and a 52 week high of $27.15. The company has a quick ratio of 2.15, a current ratio of 2.96 and a debt-to-equity ratio of 2.43.
Griffon (NYSE:GFF) last posted its earnings results on Thursday, November 16th. The conglomerate reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $430.80 million during the quarter. Griffon had a net margin of 0.80% and a return on equity of 9.60%. During the same period in the previous year, the business posted $0.27 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Wednesday, November 29th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.33%. This is a boost from Griffon’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, November 28th. Griffon’s dividend payout ratio (DPR) is presently 82.35%.
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Griffon Company Profile
Griffon Corporation is a management and holding company that conducts business through its subsidiaries. The Company operates through three segments: Home & Building Products (HBP), Telephonics Corporation (Telephonics) and Clopay Plastic Products Company, Inc (PPC). The HBP segment consists of two companies: The AMES Companies, Inc (AMES) and Clopay Building Products Company, Inc (CBP).
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