Bryce Point Capital LLC Invests $1.65 Million in Griffon Co. (NYSE:GFF)

Bryce Point Capital LLC acquired a new stake in Griffon Co. (NYSE:GFF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,118 shares of the conglomerate's stock, valued at approximately $1,648,000.

A number of other hedge funds have also recently modified their holdings of the stock. New Age Alpha Advisors LLC acquired a new position in Griffon in the fourth quarter valued at approximately $30,000. Grove Bank & Trust acquired a new position in shares of Griffon in the 4th quarter valued at $33,000. R Squared Ltd acquired a new position in shares of Griffon in the 4th quarter valued at $37,000. Headlands Technologies LLC purchased a new stake in Griffon during the fourth quarter worth $64,000. Finally, Smartleaf Asset Management LLC grew its position in Griffon by 343.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock valued at $78,000 after buying an additional 845 shares during the period. Hedge funds and other institutional investors own 73.22% of the company's stock.

Insider Buying and Selling

In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total value of $242,400.00. Following the transaction, the director now directly owns 30,730 shares of the company's stock, valued at $2,482,984. This trade represents a 8.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.20% of the stock is currently owned by company insiders.

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Griffon Price Performance

NYSE:GFF traded down $1.64 during trading hours on Monday, hitting $66.64. 238,179 shares of the stock were exchanged, compared to its average volume of 374,314. The firm's fifty day moving average price is $73.45 and its 200 day moving average price is $72.99. Griffon Co. has a 52-week low of $55.01 and a 52-week high of $86.73. The company has a market cap of $3.20 billion, a P/E ratio of 13.60 and a beta of 1.26. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The conglomerate reported $1.39 EPS for the quarter, beating the consensus estimate of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. As a group, equities research analysts anticipate that Griffon Co. will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Tuesday, February 25th. Griffon's dividend payout ratio is currently 14.69%.

Wall Street Analysts Forecast Growth

GFF has been the topic of several recent analyst reports. Loop Capital raised shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target on the stock. Stephens boosted their price objective on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Raymond James reaffirmed a "strong-buy" rating and set a $95.00 target price (up from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of Griffon from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $97.20.

Griffon 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.