Griffon Co. (NYSE:GFF) Stock Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Griffon Co. (NYSE:GFF) by 56.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,133 shares of the conglomerate’s stock after buying an additional 411 shares during the quarter. GAMMA Investing LLC’s holdings in Griffon were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GFF. UniSuper Management Pty Ltd bought a new stake in Griffon during the first quarter worth approximately $557,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Griffon in the first quarter valued at $4,013,000. Vanguard Group Inc. boosted its stake in Griffon by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock valued at $432,954,000 after buying an additional 38,707 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Griffon by 228.7% during the second quarter. Hsbc Holdings PLC now owns 61,704 shares of the conglomerate’s stock worth $3,954,000 after acquiring an additional 42,934 shares during the period. Finally, Sei Investments Co. raised its position in Griffon by 62.0% in the first quarter. Sei Investments Co. now owns 47,724 shares of the conglomerate’s stock worth $3,500,000 after acquiring an additional 18,256 shares in the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Griffon

In related 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 transaction of $6,226,000.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.26, for a total value of $6,226,000.00. Following the sale, the chief executive officer now directly owns 2,260,746 shares in the company, valued at approximately $140,754,045.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald J. Kramer sold 3,121 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $70.00, for a total value of $218,470.00. Following the completion of the transaction, the chief executive officer now owns 2,178,320 shares of the company’s stock, valued at approximately $152,482,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,020 shares of company stock worth $16,722,924. 16.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GFF shares. StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Robert W. Baird reduced their target price on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Griffon has a consensus rating of “Buy” and a consensus target price of $81.50.

Griffon Stock Up 1.0 %

GFF opened at $68.76 on Tuesday. The business has a 50 day moving average of $65.69 and a 200-day moving average of $67.08. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 18.14 and a beta of 1.29. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. Griffon Co. has a 1-year low of $38.33 and a 1-year high of $77.99.

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

Griffon Dividend Announcement

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 annualized dividend and a dividend yield of 0.87%. Griffon’s payout ratio is currently 15.83%.

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.