Arcadia Investment Management Corp MI Buys 9,701 Shares of Griffon Co. (NYSE:GFF)

Arcadia Investment Management Corp MI lifted its position in Griffon Co. (NYSE:GFF - Free Report) by 125.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,426 shares of the conglomerate's stock after buying an additional 9,701 shares during the quarter. Arcadia Investment Management Corp MI's holdings in Griffon were worth $1,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. UniSuper Management Pty Ltd acquired a new position in Griffon in the first quarter valued at about $557,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Griffon in the first quarter valued at approximately $4,013,000. Vanguard Group Inc. boosted its holdings in Griffon by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate's stock valued at $432,954,000 after acquiring an additional 38,707 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Griffon by 228.7% in the second quarter. Hsbc Holdings PLC now owns 61,704 shares of the conglomerate's stock valued at $3,954,000 after acquiring an additional 42,934 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Griffon by 62.0% in the first quarter. Sei Investments Co. now owns 47,724 shares of the conglomerate's stock valued at $3,500,000 after acquiring an additional 18,256 shares during the last quarter. 73.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Stephens reiterated an "overweight" rating and issued a $85.00 target price on shares of Griffon in a report on Tuesday, September 10th. Robert W. Baird increased their price target on Griffon from $84.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Finally, StockNews.com cut Griffon from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $83.50.

Insiders Place Their Bets

In other Griffon news, Director Kevin F. Sullivan sold 12,447 shares of Griffon stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the transaction, the director now directly owns 50,390 shares of the company's stock, valued at $3,275,350. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kevin F. Sullivan sold 12,447 shares of Griffon stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the sale, the director now directly owns 50,390 shares in the company, valued at approximately $3,275,350. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert F. Mehmel sold 1,205 shares of Griffon stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $70.11, for a total value of $84,482.55. Following the completion of the sale, the chief operating officer now owns 754,046 shares in the company, valued at approximately $52,866,165.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,464 shares of company stock valued at $17,244,450 in the last ninety days. Company insiders own 16.10% of the company's stock.

Griffon Stock Up 0.7 %

Shares of GFF traded up $0.44 during trading hours on Friday, reaching $63.32. The stock had a trading volume of 249,815 shares, compared to its average volume of 342,975. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 16.98 and a beta of 1.31. The firm has a 50-day simple moving average of $66.43 and a 200 day simple moving average of $66.59. Griffon Co. has a 12 month low of $41.08 and a 12 month 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.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company had revenue of $647.80 million during the quarter, compared to analysts' expectations of $688.94 million. During the same period in the previous year, the company posted $1.29 earnings per share. The company's quarterly revenue was down 5.2% compared to the same quarter last year. Equities research analysts predict that Griffon Co. will post 4.87 earnings per share for the current fiscal year.

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. Griffon's dividend payout ratio is 16.09%.

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.