Schroder Investment Management Group reduced its stake in Griffon Co. (NYSE:GFF - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,261 shares of the conglomerate's stock after selling 3,847 shares during the quarter. Schroder Investment Management Group owned about 0.11% of Griffon worth $3,855,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in GFF. Raymond James Financial Inc. bought a new stake in shares of Griffon in the 4th quarter worth approximately $43,325,000. Norges Bank purchased a new position in Griffon in the 4th quarter worth approximately $21,451,000. abrdn plc purchased a new position in Griffon in the 4th quarter worth approximately $12,842,000. Vanguard Group Inc. raised its holdings 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 acquiring an additional 177,771 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Griffon in the 3rd quarter worth approximately $9,800,000. 73.22% of the stock is owned by institutional investors.
Insider Buying and Selling at Griffon
In other news, Director Cheryl L. Turnbull sold 3,000 shares of Griffon stock in a transaction 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 sale, the director now directly owns 30,730 shares in the company, valued at approximately $2,482,984. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.20% of the stock is owned by insiders.
Griffon Stock Down 4.1 %
Shares of NYSE GFF traded down $2.98 during midday trading on Thursday, reaching $69.19. 102,505 shares of the company's stock traded hands, compared to its average volume of 431,680. 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 stock's 50 day simple moving average is $72.61 and its 200-day simple moving average is $72.91. Griffon Co. has a one year low of $55.01 and a one year high of $86.73. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 14.12 and a beta of 1.26.
Griffon (NYSE:GFF - Get Free Report) last announced its earnings results 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 net margin of 9.13% and a return on equity of 120.61%. On average, analysts predict that Griffon Co. will post 5.55 EPS for the current fiscal year.
Griffon Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, February 25th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.72 annualized dividend and a yield of 1.04%. Griffon's dividend payout ratio (DPR) is 14.69%.
Analyst Ratings Changes
A number of brokerages recently weighed in on GFF. StockNews.com lowered shares of Griffon from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Griffon in a research note on Tuesday, April 1st. They set a "buy" rating and a $91.00 target price for the company. Stephens boosted their target price on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Raymond James reiterated a "strong-buy" rating and set a $95.00 target price (up from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Finally, Loop Capital upgraded shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Four investment 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.com, Griffon currently has an average rating of "Buy" and an average target price of $97.20.
Check Out Our Latest Research Report on GFF
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.
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