Fox Run Management L.L.C. Acquires New Position in Griffon Co. (NYSE:GFF)

Fox Run Management L.L.C. bought a new position in shares of Griffon Co. (NYSE:GFF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,850 shares of the conglomerate's stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Griffon in the 4th quarter worth about $43,325,000. Point72 Asset Management L.P. grew its stake in Griffon by 74.8% during the third quarter. Point72 Asset Management L.P. now owns 473,490 shares of the conglomerate's stock worth $33,144,000 after purchasing an additional 202,685 shares during the period. abrdn plc bought a new stake in Griffon in the fourth quarter worth approximately $12,842,000. Wilmington Savings Fund Society FSB acquired a new position in Griffon in the third quarter valued at approximately $9,800,000. Finally, Jane Street Group LLC boosted its holdings in shares of Griffon by 21.4% during the 3rd quarter. Jane Street Group LLC now owns 348,907 shares of the conglomerate's stock worth $24,423,000 after buying an additional 61,399 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.

Griffon Stock Down 2.0 %

Shares of NYSE GFF traded down $1.43 during mid-day trading on Friday, reaching $70.53. 280,621 shares of the company's stock traded hands, compared to its average volume of 425,880. 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 1-year low of $55.01 and a 1-year high of $86.73. The stock has a market cap of $3.39 billion, a P/E ratio of 14.39 and a beta of 1.40. The business has a 50-day simple moving average of $74.07 and a 200 day simple moving average of $72.83.

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Griffon (NYSE:GFF - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The conglomerate reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. On average, analysts expect that Griffon Co. will post 5.55 EPS for the current fiscal year.

Griffon Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Cheryl L. Turnbull sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.80, for a total value of $242,400.00. Following the transaction, the director now owns 30,730 shares in the company, valued at $2,482,984. The trade was a 8.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.20% of the company's stock.

Analyst Ratings Changes

GFF has been the topic of a number of research reports. Stephens boosted their target price on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Raymond James reiterated 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. Loop Capital upgraded Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Finally, StockNews.com lowered Griffon from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $98.75.

Griffon Company 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.