Scarborough Advisors LLC Acquires Shares of 572 Griffon Co. (NYSE:GFF)

Scarborough Advisors LLC acquired a new stake in shares of Griffon Co. (NYSE:GFF) during the 4th quarter, HoldingsChannel reports. The firm acquired 572 shares of the conglomerate’s stock, valued at approximately $35,000.

Several other large investors have also bought and sold shares of GFF. GAMMA Investing LLC bought a new position in Griffon during the 4th quarter valued at $30,000. Parkside Financial Bank & Trust lifted its stake in Griffon by 671.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 557 shares in the last quarter. Sage Rock Capital Management LP bought a new position in Griffon during the 4th quarter valued at $98,000. Russell Investments Group Ltd. lifted its stake in Griffon by 11.2% during the 4th quarter. Russell Investments Group Ltd. now owns 3,336 shares of the conglomerate’s stock valued at $203,000 after acquiring an additional 336 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Griffon during the 4th quarter valued at $212,000. 73.22% of the stock is currently owned by institutional investors.

Griffon Trading Up 0.9 %

Shares of Griffon stock opened at $65.86 on Wednesday. Griffon Co. has a 1 year low of $37.13 and a 1 year high of $77.99. The firm has a market cap of $3.26 billion, a PE ratio of 17.38 and a beta of 1.33. The stock has a fifty day moving average price of $67.45 and a 200-day moving average price of $65.06. The company has a debt-to-equity ratio of 7.80, a current ratio of 2.78 and a quick ratio of 1.56.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, May 8th. The conglomerate reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.51. Griffon had a return on equity of 90.02% and a net margin of 7.48%. The firm had revenue of $672.88 million during the quarter, compared to analyst estimates of $625.22 million. During the same period last year, the firm posted $1.21 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Griffon Co. will post 5 EPS for the current year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, May 29th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, May 29th. Griffon’s dividend payout ratio (DPR) is currently 15.83%.

Analyst Ratings Changes

Several equities analysts have weighed in on GFF shares. Robert W. Baird raised their price objective on Griffon from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. Two 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, Griffon currently has an average rating of “Strong Buy” and an average target price of $81.00.

Insider Buying and Selling

In related news, CAO W. Christopher Durborow sold 13,000 shares of Griffon stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $66.88, for a total value of $869,440.00. Following the completion of the sale, the chief accounting officer now owns 48,368 shares of the company’s stock, valued at approximately $3,234,851.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the completion of the transaction, the chief executive officer now owns 2,500,746 shares of the company’s stock, valued at approximately $167,725,034.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO W. Christopher Durborow sold 13,000 shares of Griffon stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $66.88, for a total value of $869,440.00. Following the transaction, the chief accounting officer now directly owns 48,368 shares of the company’s stock, valued at approximately $3,234,851.84. The disclosure for this sale can be found here. 16.10% of the stock is currently owned by 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.