Skandinaviska Enskilda Banken AB publ Sells 51,100 Shares of Griffon Corporation $GFF

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Griffon Corporation (NYSE:GFF) by 50.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 49,634 shares of the conglomerate’s stock after selling 51,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Griffon were worth $3,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in Griffon by 118.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,420 shares of the conglomerate’s stock worth $602,000 after acquiring an additional 4,568 shares during the last quarter. Inspire Investing LLC lifted its holdings in Griffon by 178.4% during the first quarter. Inspire Investing LLC now owns 15,628 shares of the conglomerate’s stock valued at $1,117,000 after purchasing an additional 10,015 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Griffon during the first quarter worth about $3,828,000. Raymond James Financial Inc. increased its stake in shares of Griffon by 9.8% in the first quarter. Raymond James Financial Inc. now owns 667,692 shares of the conglomerate’s stock worth $47,740,000 after purchasing an additional 59,797 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Griffon by 23.5% in the first quarter. Synovus Financial Corp now owns 17,564 shares of the conglomerate’s stock worth $1,256,000 after purchasing an additional 3,346 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GFF shares. Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Stephens boosted their target price on shares of Griffon from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Griffon in a report on Monday, November 17th. Finally, Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $95.60.

Griffon Price Performance

Griffon stock opened at $74.05 on Tuesday. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 55.26, a PEG ratio of 1.02 and a beta of 1.14. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58. The business has a 50-day simple moving average of $74.11 and a 200 day simple moving average of $74.43. Griffon Corporation has a 52 week low of $63.92 and a 52 week high of $84.42.

Griffon (NYSE:GFF) last released its quarterly earnings results on Wednesday, November 19th. The conglomerate reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.02). Griffon had a net margin of 2.78% and a return on equity of 144.21%. The business had revenue of $662.18 million during the quarter, compared to analysts’ expectations of $631.47 million. During the same period in the previous year, the business earned $1.47 EPS. The business’s revenue was up .4% on a year-over-year basis. Griffon has set its FY 2026 guidance at EPS. On average, research analysts forecast that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.

Griffon Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 28th. This is a boost from Griffon’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.2%. Griffon’s dividend payout ratio (DPR) is presently 88.00%.

About Griffon

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.