Deutsche Bank initiated coverage on shares of Griffon (NYSE:GFF) in a research report released on Friday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $18.00 price objective on the conglomerate’s stock.

A number of other research analysts also recently issued reports on GFF. ValuEngine downgraded shares of Griffon from a hold rating to a sell rating in a research note on Wednesday, June 13th. TheStreet downgraded shares of Griffon from a b- rating to a c+ rating in a research note on Friday, June 29th. Finally, Robert W. Baird started coverage on shares of Griffon in a research note on Thursday, September 13th. They issued a neutral rating and a $20.00 price target for the company. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $19.00.

Shares of Griffon stock opened at $16.95 on Friday. Griffon has a 52-week low of $16.75 and a 52-week high of $24.50. The company has a quick ratio of 1.31, a current ratio of 2.26 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $777.74 million, a P/E ratio of 19.48 and a beta of 1.33.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, August 1st. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Griffon had a net margin of 6.18% and a return on equity of 7.23%. The company had revenue of $516.55 million during the quarter. equities research analysts anticipate that Griffon will post 0.74 EPS for the current fiscal year.

Griffon declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 1st that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the conglomerate to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Thursday, August 23rd were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 1.65%. Griffon’s dividend payout ratio is currently 32.18%.

In related news, Director Henry A. Alpert acquired 5,000 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were bought at an average price of $18.09 per share, with a total value of $90,450.00. Following the completion of the acquisition, the director now owns 64,741 shares in the company, valued at $1,171,164.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 24.80% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group acquired a new stake in Griffon during the second quarter worth approximately $112,000. Piedmont Investment Advisors LLC acquired a new stake in Griffon during the second quarter worth approximately $139,000. Acadian Asset Management LLC acquired a new stake in Griffon during the second quarter worth approximately $150,000. OMERS ADMINISTRATION Corp acquired a new stake in Griffon during the second quarter worth approximately $196,000. Finally, Tower Research Capital LLC TRC raised its holdings in Griffon by 444.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,863 shares of the conglomerate’s stock worth $211,000 after purchasing an additional 9,685 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors.

About Griffon

Griffon Corporation, through its wholly-owned subsidiaries, engages in home and building, telephonics, and plastic products businesses worldwide. Its Home & Building Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; and residential and commercial garage doors to professional dealers and home center retail chains.

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