Charles Schwab Investment Management Inc. Increases Stake in Griffon Co. (NYSE:GFF)

Charles Schwab Investment Management Inc. raised its holdings in Griffon Co. (NYSE:GFF - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 538,200 shares of the conglomerate's stock after purchasing an additional 18,274 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.12% of Griffon worth $38,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in GFF. FMR LLC boosted its stake in Griffon by 33.9% in the third quarter. FMR LLC now owns 76,213 shares of the conglomerate's stock valued at $5,335,000 after acquiring an additional 19,291 shares during the last quarter. Arcadia Investment Management Corp MI lifted its stake in Griffon by 35.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 23,551 shares of the conglomerate's stock valued at $1,678,000 after purchasing an additional 6,125 shares during the last quarter. State Street Corp grew its holdings in Griffon by 4.1% during the third quarter. State Street Corp now owns 1,555,908 shares of the conglomerate's stock valued at $108,914,000 after purchasing an additional 61,210 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Griffon in the third quarter worth $2,089,000. Finally, Jane Street Group LLC raised its stake in shares of Griffon by 21.4% in the third quarter. Jane Street Group LLC now owns 348,907 shares of the conglomerate's stock valued at $24,423,000 after buying an additional 61,399 shares during the period. Institutional investors own 73.22% of the company's stock.

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Griffon Price Performance

Shares of GFF stock traded up $1.82 during trading on Wednesday, hitting $71.88. The company had a trading volume of 216,890 shares, compared to its average volume of 345,363. The stock's 50-day moving average is $74.28 and its two-hundred day moving average is $72.31. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 14.66 and a beta of 1.40. The company has a quick ratio of 1.34, a current ratio of 2.51 and a debt-to-equity ratio of 6.44. Griffon Co. has a 52 week low of $55.01 and a 52 week high of $86.73.

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

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, February 25th. Griffon's payout ratio is currently 14.69%.

Insider Activity

In related news, Director Cheryl L. Turnbull sold 3,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the transaction, the director now owns 30,730 shares of the company's stock, valued at approximately $2,482,984. This trade represents a 8.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.20% of the company's stock.

Analyst Upgrades and Downgrades

GFF has been the subject of several recent research reports. Robert W. Baird lifted their price objective on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Loop Capital upgraded shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. StockNews.com raised Griffon from a "buy" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Raymond James reissued a "strong-buy" rating and set a $95.00 price objective (up previously from $92.00) on shares of Griffon in a report on Thursday, February 6th. Finally, Stephens lifted their target price on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy" and a consensus target price of $98.75.

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.