Intech Investment Management LLC lifted its stake in shares of Griffon Co. (NYSE:GFF - Free Report) by 103.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,622 shares of the conglomerate's stock after buying an additional 26,751 shares during the period. Intech Investment Management LLC owned about 0.11% of Griffon worth $3,750,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. State Street Corp increased its position in Griffon by 4.1% in the 3rd quarter. State Street Corp now owns 1,555,908 shares of the conglomerate's stock valued at $108,914,000 after acquiring an additional 61,210 shares during the period. Geode Capital Management LLC lifted its holdings in Griffon by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 877,840 shares of the conglomerate's stock worth $61,463,000 after buying an additional 30,264 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Griffon in the fourth quarter valued at about $43,325,000. Charles Schwab Investment Management Inc. raised its position in shares of Griffon by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,200 shares of the conglomerate's stock worth $38,358,000 after acquiring an additional 18,274 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Griffon by 74.8% in 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. 73.22% of the stock is currently owned by institutional investors.
Insider Transactions at Griffon
In related news, Director Cheryl L. Turnbull sold 3,000 shares of Griffon 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 sale, the director now directly owns 30,730 shares in the company, valued at approximately $2,482,984. This trade represents a 8.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 10.20% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on GFF. Raymond James reaffirmed a "strong-buy" rating and issued a $95.00 target price (up from $92.00) on shares of Griffon in a research report on Thursday, February 6th. StockNews.com lowered Griffon from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Loop Capital upgraded shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Finally, Stephens lifted their price objective on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Griffon currently has a consensus rating of "Buy" and a consensus target price of $98.75.
View Our Latest Stock Report on Griffon
Griffon Stock Up 5.3 %
Griffon stock traded up $3.79 during trading on Monday, hitting $74.59. 379,647 shares of the company were exchanged, compared to its average volume of 401,161. The company has a market capitalization of $3.58 billion, a P/E ratio of 15.22 and a beta of 1.40. The business's 50 day moving average is $74.27 and its 200 day moving average is $72.46. Griffon Co. has a 52 week low of $55.01 and a 52 week high of $86.73. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44.
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, topping 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%. Analysts predict that Griffon Co. will post 5.55 earnings per share for the current year.
Griffon Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.72 annualized dividend and a dividend yield of 0.97%. Griffon's dividend payout ratio is currently 14.69%.
Griffon Company Profile
(
Free Report)
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.
See Also
Before you consider Griffon, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Griffon wasn't on the list.
While Griffon currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
