Ritholtz Wealth Management Purchases 187 Shares of Griffon Co. (NYSE:GFF)

Ritholtz Wealth Management grew its position in Griffon Co. (NYSE:GFF) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,913 shares of the conglomerate’s stock after acquiring an additional 187 shares during the quarter. Ritholtz Wealth Management’s holdings in Griffon were worth $274,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Griffon by 22.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,109 shares of the conglomerate’s stock valued at $3,437,000 after purchasing an additional 9,000 shares in the last quarter. CWM LLC increased its holdings in Griffon by 1,024.8% in the 3rd quarter. CWM LLC now owns 1,136 shares of the conglomerate’s stock valued at $80,000 after buying an additional 1,035 shares during the period. GAMMA Investing LLC raised its stake in shares of Griffon by 56.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock valued at $79,000 after buying an additional 411 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Griffon by 6.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 270,805 shares of the conglomerate’s stock worth $17,294,000 after acquiring an additional 16,740 shares during the period. Finally, Quarry LP boosted its position in shares of Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after acquiring an additional 386 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GFF has been the topic of several analyst reports. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 12th. Stephens reiterated an “overweight” rating and issued a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th. Finally, Robert W. Baird cut their price objective on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $81.50.

Insider Activity

In related news, SVP Seth L. Kaplan sold 4,844 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $339,080.00. Following the completion of the transaction, the senior vice president now owns 198,571 shares in the company, valued at $13,899,970. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Seth L. Kaplan sold 4,844 shares of Griffon stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $339,080.00. Following the completion of the sale, the senior vice president now directly owns 198,571 shares in the company, valued at $13,899,970. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin F. Sullivan sold 12,447 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total transaction of $809,055.00. Following the transaction, the director now owns 50,390 shares in the company, valued at approximately $3,275,350. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 253,020 shares of company stock valued at $16,722,924 over the last three months. 16.10% of the stock is owned by insiders.

Griffon Stock Down 1.2 %

NYSE GFF opened at $68.13 on Friday. The stock’s 50 day simple moving average is $66.13 and its 200 day simple moving average is $67.07. Griffon Co. has a one year low of $38.33 and a one year high of $77.99. The firm has a market cap of $3.38 billion, a PE ratio of 17.98 and a beta of 1.29. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.07). The business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. Griffon’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 EPS. As a group, sell-side analysts forecast that Griffon Co. will post 4.87 earnings per share for the current fiscal year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were given 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 0.88%. Griffon’s payout ratio is 15.83%.

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.