Griffon Co. (NYSE:GFF) Position Trimmed by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC reduced its holdings in Griffon Co. (NYSE:GFF - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,467 shares of the conglomerate's stock after selling 14,120 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Griffon were worth $817,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. MetLife Investment Management LLC boosted its stake in Griffon by 6.9% in the fourth quarter. MetLife Investment Management LLC now owns 22,809 shares of the conglomerate's stock valued at $1,626,000 after acquiring an additional 1,478 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in Griffon by 5.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,620 shares of the conglomerate's stock valued at $1,042,000 after purchasing an additional 811 shares during the period. Keeley Teton Advisors LLC grew its stake in Griffon by 5.8% during the 4th quarter. Keeley Teton Advisors LLC now owns 5,500 shares of the conglomerate's stock worth $392,000 after buying an additional 300 shares during the last quarter. XTX Topco Ltd acquired a new stake in Griffon in the fourth quarter worth $705,000. Finally, Barclays PLC lifted its stake in Griffon by 19.0% in the fourth quarter. Barclays PLC now owns 192,130 shares of the conglomerate's stock valued at $13,693,000 after buying an additional 30,692 shares during the last quarter. Institutional investors own 73.22% of the company's stock.

Griffon Stock Up 0.2 %

Shares of GFF stock opened at $67.32 on Friday. Griffon Co. has a 1 year low of $55.01 and a 1 year high of $86.73. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. The business's fifty day moving average is $70.29 and its 200-day moving average is $72.80. The stock has a market cap of $3.24 billion, a PE ratio of 13.74 and a beta of 1.26.

Griffon (NYSE:GFF - Get Free Report) last released its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (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%. Equities analysts expect that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors 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 yield of 1.07%. The ex-dividend date of this dividend was Tuesday, February 25th. Griffon's payout ratio is 14.69%.

Insiders Place Their Bets

In other news, Director Cheryl L. Turnbull sold 3,000 shares of the firm's stock in a transaction 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 completion of the sale, 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 legal filing with the SEC, which is available through this link. 10.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target for the company. StockNews.com lowered shares of Griffon from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Loop Capital upgraded Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Raymond James reaffirmed a "strong-buy" rating and set a $95.00 target price (up previously from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Finally, Stephens increased their price target on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.

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