Griffon (NYSE:GFF) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Griffon (NYSE:GFF - Free Report) from a strong-buy rating to a buy rating in a report published on Thursday morning.

Other equities analysts also recently issued research reports about the stock. Raymond James reaffirmed a "strong-buy" rating and set a $95.00 price target (up previously from $92.00) on shares of Griffon in a report on Thursday. Stephens lifted their target price on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Robert W. Baird increased their price target on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th.

Griffon Stock Performance

Shares of NYSE:GFF traded down $0.41 during midday trading on Thursday, hitting $78.64. The company had a trading volume of 334,314 shares, compared to its average volume of 324,338. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 16.05 and a beta of 1.43. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.44. The company has a fifty day moving average of $75.93 and a two-hundred day moving average of $70.99. Griffon has a 12-month low of $55.01 and a 12-month 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 EPS for the quarter, topping 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%. On average, equities research analysts expect that Griffon will post 5.51 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, February 25th. Griffon's payout ratio is currently 14.69%.

Griffon declared that its Board of Directors has authorized a share buyback program on Wednesday, November 13th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the conglomerate to buy up to 10.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity at Griffon

In other news, CAO W. Christopher Durborow sold 5,170 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $80.38, for a total transaction of $415,564.60. Following the completion of the transaction, the chief accounting officer now directly owns 44,306 shares in the company, valued at approximately $3,561,316.28. This represents a 10.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Victor Eugene Renuart sold 4,500 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $84.46, for a total transaction of $380,070.00. Following the completion of the transaction, the director now directly owns 19,312 shares of the company's stock, valued at approximately $1,631,091.52. This trade represents a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 292,309 shares of company stock valued at $22,104,633. Corporate insiders own 10.20% of the company's stock.

Hedge Funds Weigh In On Griffon

Institutional investors have recently bought and sold shares of the business. Raymond James Trust N.A. lifted its stake in Griffon by 5.1% in the third quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate's stock worth $244,000 after acquiring an additional 168 shares during the period. Optimist Retirement Group LLC raised its holdings in shares of Griffon by 5.3% in the 4th quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate's stock valued at $256,000 after purchasing an additional 181 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Griffon by 5.0% in the 3rd quarter. Ritholtz Wealth Management now owns 3,913 shares of the conglomerate's stock worth $274,000 after purchasing an additional 187 shares during the period. Colonial River Investments LLC boosted its stake in shares of Griffon by 6.5% during the fourth quarter. Colonial River Investments LLC now owns 5,733 shares of the conglomerate's stock valued at $409,000 after purchasing an additional 351 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its holdings in Griffon by 1.1% during the third quarter. SkyView Investment Advisors LLC now owns 34,780 shares of the conglomerate's stock valued at $2,435,000 after buying an additional 384 shares during the period. Institutional investors own 73.22% of the company's stock.

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.