Nisa Investment Advisors LLC Has $66,000 Stock Position in Griffon Co. (NYSE:GFF)

Nisa Investment Advisors LLC lowered its stake in Griffon Co. (NYSE:GFF) by 59.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 941 shares of the conglomerate’s stock after selling 1,352 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Griffon were worth $66,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP lifted its position in shares of Griffon by 98.7% in the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after buying an additional 386 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Griffon during the 2nd quarter worth about $55,000. Plato Investment Management Ltd bought a new stake in Griffon during the 1st quarter valued at approximately $65,000. DekaBank Deutsche Girozentrale bought a new stake in Griffon during the 2nd quarter valued at approximately $70,000. Finally, GAMMA Investing LLC boosted its stake in Griffon by 56.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock valued at $79,000 after purchasing an additional 411 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Insider Transactions at Griffon

In other news, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,260,746 shares of the company’s stock, valued at approximately $140,754,045.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,260,746 shares of the company’s stock, valued at approximately $140,754,045.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Seth L. Kaplan sold 4,844 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 198,571 shares of the company’s stock, valued at approximately $13,899,970. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,464 shares of company stock valued at $17,244,450. Corporate insiders own 16.10% of the company’s stock.

Griffon Trading Up 1.1 %

Griffon stock opened at $67.98 on Friday. The business has a 50 day moving average price of $66.43 and a two-hundred day moving average price of $66.59. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 18.23 and a beta of 1.31. Griffon Co. has a 12 month low of $42.13 and a 12 month high of $77.99.

Griffon (NYSE:GFF) last posted its quarterly 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 firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. As a group, equities analysts forecast that Griffon Co. will post 4.87 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on GFF. Stephens restated an “overweight” rating and set a $85.00 target price on shares of Griffon in a research note on Tuesday, September 10th. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Robert W. Baird increased their target price on Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Griffon has an average rating of “Buy” and an average price target of $83.50.

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.