Stevens Capital Management LP Lowers Stake in Griffon Corporation (GFF)
Stevens Capital Management LP trimmed its stake in shares of Griffon Corporation (NYSE:GFF) by 15.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,695 shares of the conglomerate’s stock after selling 1,901 shares during the period. Stevens Capital Management LP’s holdings in Griffon Corporation were worth $235,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Wells Fargo & Company MN raised its holdings in shares of Griffon Corporation by 1.3% during the second quarter. Wells Fargo & Company MN now owns 23,363 shares of the conglomerate’s stock worth $513,000 after acquiring an additional 299 shares during the period. Swiss National Bank lifted its position in Griffon Corporation by 7.3% in the 2nd quarter. Swiss National Bank now owns 51,200 shares of the conglomerate’s stock valued at $1,124,000 after acquiring an additional 3,500 shares in the last quarter. Royce & Associates LP lifted its position in Griffon Corporation by 39.6% in the 2nd quarter. Royce & Associates LP now owns 618,916 shares of the conglomerate’s stock valued at $13,585,000 after acquiring an additional 175,600 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Griffon Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,109 shares of the conglomerate’s stock worth $156,000 after purchasing an additional 1,066 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Griffon Corporation by 75.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,197 shares of the conglomerate’s stock worth $290,000 after purchasing an additional 5,673 shares during the period. Institutional investors and hedge funds own 68.55% of the company’s stock.
Shares of Griffon Corporation (GFF) opened at 22.20 on Monday. The company has a market capitalization of $925.34 million, a price-to-earnings ratio of 29.29 and a beta of 1.42. Griffon Corporation has a one year low of $16.18 and a one year high of $27.15. The stock has a 50 day moving average price of $19.25 and a 200-day moving average price of $21.91.
Griffon Corporation (NYSE:GFF) last released its earnings results on Wednesday, August 2nd. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.08). The company had revenue of $473.32 million for the quarter. Griffon Corporation had a net margin of 1.79% and a return on equity of 8.46%. On average, equities research analysts expect that Griffon Corporation will post $0.85 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, August 24th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Tuesday, August 22nd. Griffon Corporation’s payout ratio is 29.63%.
Separately, BidaskClub cut Griffon Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th.
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Griffon Corporation 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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