22,262 Shares in Griffon Co. (NYSE:GFF) Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP bought a new stake in shares of Griffon Co. (NYSE:GFF - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 22,262 shares of the conglomerate's stock, valued at approximately $1,587,000.

Other hedge funds have also made changes to their positions in the company. Bryce Point Capital LLC bought a new position in Griffon during the fourth quarter worth $1,648,000. Trexquant Investment LP raised its stake in Griffon by 29.0% during the 4th quarter. Trexquant Investment LP now owns 144,494 shares of the conglomerate's stock valued at $10,298,000 after acquiring an additional 32,497 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Griffon in the fourth quarter worth about $64,000. National Bank of Canada FI boosted its holdings in shares of Griffon by 4.5% in the fourth quarter. National Bank of Canada FI now owns 17,032 shares of the conglomerate's stock valued at $1,214,000 after acquiring an additional 731 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Griffon by 10.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 314,005 shares of the conglomerate's stock valued at $22,379,000 after purchasing an additional 30,193 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of Griffon from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Raymond James reiterated a "strong-buy" rating and issued a $95.00 price target (up previously from $92.00) on shares of Griffon in a research report on Thursday, February 6th. Stephens raised their target price on shares of Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price objective on the stock. Finally, Loop Capital upgraded Griffon to a "strong-buy" rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $97.20.

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Insider Activity at Griffon

In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was 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 in the company, valued at $2,482,984. This trade represents a 8.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.20% of the stock is owned by company insiders.

Griffon Stock Up 0.6 %

GFF traded up $0.43 during trading on Tuesday, reaching $70.85. 65,130 shares of the stock traded hands, compared to its average volume of 433,505. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.34. Griffon Co. has a fifty-two week low of $55.01 and a fifty-two week high of $86.73. The stock's 50-day simple moving average is $72.24 and its two-hundred day simple moving average is $72.95. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 14.46 and a beta of 1.26.

Griffon (NYSE:GFF - Get Free Report) last posted its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities research analysts expect that Griffon Co. will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Tuesday, February 25th. Griffon's dividend payout ratio is 14.69%.

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.