Millennium Management LLC Has $23.14 Million Stake in Griffon Co. (NYSE:GFF)

Millennium Management LLC trimmed its holdings in Griffon Co. (NYSE:GFF - Free Report) by 21.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 362,361 shares of the conglomerate's stock after selling 96,852 shares during the period. Millennium Management LLC owned about 0.73% of Griffon worth $23,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC increased its position in shares of Griffon by 46.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 10,650 shares of the conglomerate's stock worth $649,000 after acquiring an additional 3,380 shares in the last quarter. Seven Eight Capital LP bought a new position in Griffon during the 4th quarter worth about $1,830,000. Lighthouse Investment Partners LLC bought a new position in Griffon during the 4th quarter worth about $4,206,000. Sage Rock Capital Management LP acquired a new stake in shares of Griffon in the 4th quarter valued at about $98,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Griffon in the fourth quarter valued at about $35,000. 73.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GFF has been the subject of a number of research reports. Stephens reiterated an "overweight" rating and set a $85.00 price objective on shares of Griffon in a report on Tuesday, September 10th. Robert W. Baird decreased their price target on shares of Griffon from $86.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $81.50.

Griffon Stock Up 1.2 %

Shares of Griffon stock traded up $0.85 on Friday, reaching $69.18. 221,821 shares of the company were exchanged, compared to its average volume of 435,008. Griffon Co. has a one year low of $38.33 and a one year high of $77.99. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The company has a 50-day moving average of $65.99 and a 200 day moving average of $67.35. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 18.25 and a beta of 1.29.

Griffon (NYSE:GFF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($0.07). The firm had revenue of $647.80 million during the quarter, compared to the consensus estimate of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The business's revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. On average, equities research analysts forecast that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. Griffon's payout ratio is 15.83%.

Insider Transactions at Griffon

In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following the completion of the sale, the chief executive officer now owns 2,260,746 shares of the company's stock, valued at $140,754,045.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Griffon news, Director Kevin F. Sullivan sold 12,447 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total transaction of $809,055.00. Following the completion of the sale, the director now directly owns 50,390 shares in the company, valued at $3,275,350. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ronald J. Kramer sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the sale, the chief executive officer now owns 2,260,746 shares of the company's stock, valued at approximately $140,754,045.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 253,020 shares of company stock worth $16,722,924. 16.10% of the stock is owned by company insiders.

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.