Integrated Quantitative Investments LLC Invests $1.38 Million in Griffon Co. (NYSE:GFF)

Integrated Quantitative Investments LLC bought a new stake in shares of Griffon Co. (NYSE:GFF - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,300 shares of the conglomerate's stock, valued at approximately $1,376,000. Griffon accounts for 0.7% of Integrated Quantitative Investments LLC's holdings, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Optimist Retirement Group LLC increased its stake in Griffon by 5.3% in the fourth quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate's stock worth $256,000 after purchasing an additional 181 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Griffon by 4.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,977 shares of the conglomerate's stock valued at $355,000 after buying an additional 198 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in Griffon by 5.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 5,701 shares of the conglomerate's stock valued at $406,000 after buying an additional 319 shares during the period. Colonial River Investments LLC increased its position 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 worth $409,000 after acquiring an additional 351 shares during the period. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of Griffon by 1.1% in the third quarter. SkyView Investment Advisors LLC now owns 34,780 shares of the conglomerate's stock valued at $2,435,000 after purchasing an additional 384 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

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Griffon Stock Performance

GFF traded up $0.82 on Wednesday, reaching $66.41. 122,401 shares of the stock were exchanged, compared to its average volume of 431,340. The company's 50-day moving average price is $72.79 and its 200 day moving average price is $72.90. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.34. The firm has a market capitalization of $3.19 billion, a PE ratio of 13.54 and a beta of 1.26. Griffon Co. has a fifty-two week low of $55.01 and a fifty-two week high of $86.73.

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, sell-side analysts forecast that Griffon Co. will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The business 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 annualized dividend and a yield of 1.08%. The ex-dividend date was Tuesday, February 25th. Griffon's dividend payout ratio (DPR) is 14.69%.

Insider Activity at Griffon

In other news, Director Cheryl L. Turnbull sold 3,000 shares of Griffon stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the completion of the transaction, the director now directly owns 30,730 shares of the company's stock, valued at $2,482,984. The trade was a 8.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

About Griffon

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.