Vanguard Group Inc. Raises Holdings in Griffon Co. (NYSE:GFF)

Vanguard Group Inc. boosted its position in shares of Griffon Co. (NYSE:GFF - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,375,843 shares of the conglomerate's stock after acquiring an additional 177,771 shares during the period. Vanguard Group Inc. owned 13.41% of Griffon worth $454,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Griffon in the fourth quarter worth $43,325,000. Point72 Asset Management L.P. increased its position in shares of Griffon by 74.8% in the third quarter. Point72 Asset Management L.P. now owns 473,490 shares of the conglomerate's stock worth $33,144,000 after purchasing an additional 202,685 shares during the last quarter. abrdn plc bought a new stake in Griffon during the fourth quarter valued at approximately $12,842,000. Wilmington Savings Fund Society FSB bought a new position in shares of Griffon in the 3rd quarter worth $9,800,000. Finally, Jane Street Group LLC lifted its holdings in shares of Griffon by 21.4% during the 3rd quarter. Jane Street Group LLC now owns 348,907 shares of the conglomerate's stock worth $24,423,000 after acquiring an additional 61,399 shares during the last quarter. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Griffon Trading Down 2.1 %

Shares of Griffon stock traded down $1.46 during midday trading on Friday, reaching $68.20. 617,839 shares of the company's stock traded hands, compared to its average volume of 430,194. The company has a market cap of $3.28 billion, a PE ratio of 13.92 and a beta of 1.26. The stock has a 50 day moving average of $73.45 and a 200-day moving average of $72.99. Griffon Co. has a 12 month low of $55.01 and a 12 month high of $86.73. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51.

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

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Tuesday, February 25th. Griffon's dividend payout ratio is presently 14.69%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GFF shares. Deutsche Bank Aktiengesellschaft initiated coverage on Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 target price for the company. Loop Capital raised Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Raymond James restated a "strong-buy" rating and set a $95.00 target price (up from $92.00) on shares of Griffon in a report on Thursday, February 6th. Stephens increased their price objective on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, StockNews.com downgraded shares of Griffon from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $97.20.

Insider Buying and Selling

In other 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 value of $242,400.00. Following the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 10.20% of the stock is owned by company insiders.

Griffon 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.