Rock Creek Group LP Has $2.85 Million Stock Holdings in Griffon Co. (NYSE:GFF)

Rock Creek Group LP lessened its stake in shares of Griffon Co. (NYSE:GFF - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the conglomerate's stock after selling 10,000 shares during the period. Griffon comprises 0.2% of Rock Creek Group LP's investment portfolio, making the stock its 21st largest holding. Rock Creek Group LP owned about 0.08% of Griffon worth $2,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GFF. FMR LLC lifted its position in shares of Griffon by 33.9% in the third quarter. FMR LLC now owns 76,213 shares of the conglomerate's stock worth $5,335,000 after purchasing an additional 19,291 shares in the last quarter. Arcadia Investment Management Corp MI lifted its holdings in Griffon by 35.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 23,551 shares of the conglomerate's stock worth $1,678,000 after purchasing an additional 6,125 shares during the last quarter. State Street Corp boosted its position in Griffon by 4.1% during the third quarter. State Street Corp now owns 1,555,908 shares of the conglomerate's stock worth $108,914,000 after purchasing an additional 61,210 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Griffon by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,200 shares of the conglomerate's stock valued at $38,358,000 after purchasing an additional 18,274 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Griffon by 21.4% in the third quarter. Jane Street Group LLC now owns 348,907 shares of the conglomerate's stock valued at $24,423,000 after purchasing an additional 61,399 shares during the period. 73.22% of the stock is currently owned by institutional investors and hedge funds.

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Griffon Trading Down 6.1 %

GFF stock traded down $4.57 during trading on Thursday, hitting $70.40. The company had a trading volume of 160,486 shares, compared to its average volume of 366,769. Griffon Co. has a 12 month low of $55.01 and a 12 month high of $86.73. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 14.37 and a beta of 1.40. 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 firm has a 50-day moving average price of $73.79 and a 200-day moving average price of $72.93.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The conglomerate reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. As a group, analysts predict that Griffon Co. will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

The firm also recently declared 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 of this dividend was Tuesday, February 25th. This represents a $0.72 annualized dividend and a yield of 1.02%. Griffon's dividend payout ratio (DPR) is presently 14.69%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GFF shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Griffon in a research note on Tuesday. They issued a "buy" rating and a $91.00 target price on the stock. Stephens lifted their price objective on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. StockNews.com downgraded Griffon from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Loop Capital upgraded shares of Griffon to a "strong-buy" rating in a report on Friday, February 14th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $95.00 target price (up previously from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $97.20.

Insider Activity

In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.20% of the stock is owned by corporate insiders.

Griffon Company Profile

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.