OMERS ADMINISTRATION Corp Makes New $1.90 Million Investment in Griffon Corporation $GFF

OMERS ADMINISTRATION Corp bought a new position in Griffon Corporation (NYSE:GFF) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 26,300 shares of the conglomerate’s stock, valued at approximately $1,903,000. OMERS ADMINISTRATION Corp owned 0.06% of Griffon at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in Griffon by 8,720.0% during the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 436 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Griffon by 151.7% during the second quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock valued at $32,000 after buying an additional 264 shares during the period. Brooklyn Investment Group raised its stake in Griffon by 11,460.0% in the first quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate’s stock worth $41,000 after buying an additional 573 shares in the last quarter. AlphaQuest LLC lifted its holdings in Griffon by 1,049.1% during the second quarter. AlphaQuest LLC now owns 609 shares of the conglomerate’s stock worth $44,000 after buying an additional 556 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in Griffon during the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Griffon Stock Performance

GFF opened at $74.05 on Wednesday. The company has a market cap of $3.42 billion, a P/E ratio of 74.05, a price-to-earnings-growth ratio of 1.08 and a beta of 1.28. Griffon Corporation has a 52-week low of $63.92 and a 52-week high of $84.24. The company has a quick ratio of 1.34, a current ratio of 2.66 and a debt-to-equity ratio of 18.99. The firm’s 50-day moving average price is $74.06 and its 200-day moving average price is $74.44.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Wednesday, November 19th. The conglomerate reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02). The company had revenue of $662.18 million during the quarter, compared to analysts’ expectations of $631.47 million. Griffon had a return on equity of 181.66% and a net margin of 2.03%.The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.47 EPS. As a group, equities analysts anticipate that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be paid a $0.22 dividend. The ex-dividend date is Friday, November 28th. This is a positive change from Griffon’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Griffon’s dividend payout ratio (DPR) is 88.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GFF. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Stephens lifted their price objective on shares of Griffon from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a research note on Monday. Finally, Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $95.60.

Griffon Company Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.