JPMorgan Chase & Co. lessened its holdings in Griffon Co. (NYSE:GFF - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 625,704 shares of the conglomerate's stock after selling 12,718 shares during the quarter. JPMorgan Chase & Co. owned 1.32% of Griffon worth $44,594,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in GFF. Raymond James Financial Inc. purchased a new position in shares of Griffon in the fourth quarter worth about $43,325,000. abrdn plc bought a new position in Griffon during the 4th quarter worth approximately $12,842,000. Vanguard Group Inc. increased its stake in Griffon by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate's stock worth $454,406,000 after purchasing an additional 177,771 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Griffon in the third quarter valued at approximately $9,800,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Griffon during the fourth quarter valued at approximately $4,847,000. 73.22% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, Director Cheryl L. Turnbull sold 3,000 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the sale, the director now owns 30,730 shares of the company's stock, valued at $2,482,984. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.20% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
GFF has been the topic of several analyst reports. Stephens lifted their target price on shares of Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Loop Capital upgraded shares of Griffon to a "strong-buy" rating in a research report on Friday, February 14th. StockNews.com downgraded shares of Griffon from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft started coverage on Griffon in a report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target on the stock. Finally, Raymond James reiterated a "strong-buy" rating and issued a $95.00 price objective (up previously from $92.00) on shares of Griffon in a report on Thursday, February 6th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $97.20.
View Our Latest Analysis on GFF
Griffon Trading Up 1.5 %
Shares of GFF traded up $1.04 during trading hours on Friday, reaching $70.57. 307,844 shares of the company traded hands, compared to its average volume of 434,188. Griffon Co. has a 12 month low of $55.01 and a 12 month high of $86.73. The company has a quick ratio of 1.34, a current ratio of 2.51 and a debt-to-equity ratio of 6.44. The company's fifty day moving average price is $72.44 and its two-hundred day moving average price is $72.92. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 14.40 and a beta of 1.26.
Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, beating 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%. Equities research analysts predict that Griffon Co. will post 5.55 earnings per share for the current fiscal year.
Griffon Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, February 25th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.72 dividend on an annualized basis and a yield of 1.02%. Griffon's dividend payout ratio (DPR) is 14.69%.
Griffon 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.
Further Reading
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
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
