Lombard Odier Asset Management USA Corp Has $507,000 Holdings in Griffon Corporation $GFF

Lombard Odier Asset Management USA Corp trimmed its position in shares of Griffon Corporation (NYSE:GFF) by 61.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 6,975 shares of the conglomerate’s stock after selling 11,336 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Griffon were worth $507,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GFF. Royal Bank of Canada boosted its holdings 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 worth $6,790,000 after buying an additional 15,925 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Griffon by 9.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate’s stock worth $1,676,000 after purchasing an additional 2,047 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Griffon in the 1st quarter valued at $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Griffon by 21.0% during the first 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 purchased a new position in shares of Griffon in the 1st quarter worth about $57,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Robert W. Baird set a $115.00 target price on shares of Griffon in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Griffon currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Insider Transactions at Griffon

In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $94.92, for a total value of $9,492,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,784,297 shares of the company’s stock, valued at approximately $169,365,471.24. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert F. Mehmel sold 4,166 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $97.76, for a total transaction of $407,268.16. Following the completion of the transaction, the chief operating officer owned 785,900 shares in the company, valued at approximately $76,829,584. This represents a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 129,389 shares of company stock valued at $12,309,525. 10.20% of the stock is owned by company insiders.

Griffon Trading Up 1.9%

Shares of GFF opened at $90.62 on Friday. The firm’s 50-day moving average price is $90.01 and its 200-day moving average price is $85.07. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 697.11 and a beta of 1.41. Griffon Corporation has a 1-year low of $65.01 and a 1-year high of $98.36.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business had revenue of $421.86 million during the quarter, compared to analyst estimates of $414.63 million. During the same quarter last year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was down 31.0% on a year-over-year basis. Sell-side analysts anticipate that Griffon Corporation will post 5.17 EPS for the current year.

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 29th. Griffon’s dividend payout ratio (DPR) is currently 676.92%.

Griffon Company 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.