Griffon Co. (NYSE:GFF) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in Griffon Co. (NYSE:GFF) by 1.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 71,488 shares of the conglomerate’s stock after selling 1,027 shares during the quarter. New York State Teachers Retirement System owned about 0.14% of Griffon worth $5,004,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new position in shares of Griffon in the 1st quarter valued at about $557,000. Vanguard Group Inc. grew its holdings in shares of Griffon by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock worth $432,954,000 after acquiring an additional 38,707 shares during the period. Hsbc Holdings PLC increased its stake in Griffon by 228.7% in the 2nd quarter. Hsbc Holdings PLC now owns 61,704 shares of the conglomerate’s stock valued at $3,954,000 after purchasing an additional 42,934 shares in the last quarter. Sei Investments Co. raised its holdings in Griffon by 62.0% during the first quarter. Sei Investments Co. now owns 47,724 shares of the conglomerate’s stock worth $3,500,000 after purchasing an additional 18,256 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Griffon by 659.0% during the second quarter. SG Americas Securities LLC now owns 30,466 shares of the conglomerate’s stock worth $1,946,000 after purchasing an additional 26,452 shares in the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GFF. Robert W. Baird raised their price target on Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Stephens restated an “overweight” rating and set a $85.00 target price on shares of Griffon in a research report on Tuesday, September 10th. Finally, StockNews.com lowered shares of Griffon from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $83.50.

Griffon Trading Up 1.8 %

Shares of GFF stock opened at $64.69 on Wednesday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 17.34 and a beta of 1.31. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The firm has a 50-day moving average price of $66.37 and a 200 day moving average price of $66.59. Griffon Co. has a twelve month low of $41.78 and a twelve month high of $77.99.

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

Insiders Place Their Bets

In other news, Director Kevin F. Sullivan sold 12,447 shares of Griffon stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the completion of the sale, the director now owns 50,390 shares of the company’s stock, valued at $3,275,350. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Griffon news, Director Kevin F. Sullivan sold 12,447 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the sale, the director now directly owns 50,390 shares of the company’s stock, valued at approximately $3,275,350. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ronald J. Kramer sold 100,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 260,464 shares of company stock valued at $17,244,450 in the last quarter. 16.10% of the stock is currently owned by company insiders.

About Griffon

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.