Essex Investment Management Co. LLC Invests $637,000 in Griffon Co. (NYSE:GFF)

Essex Investment Management Co. LLC bought a new position in Griffon Co. (NYSE:GFFGet Rating) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 22,720 shares of the conglomerate’s stock, valued at approximately $637,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont bought a new stake in shares of Griffon during the 2nd quarter valued at $42,000. Nisa Investment Advisors LLC bought a new position in Griffon during the 2nd quarter valued at approximately $52,000. Captrust Financial Advisors raised its position in Griffon by 64.5% during the 1st quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock valued at $55,000 after purchasing an additional 1,080 shares during the last quarter. Lazard Asset Management LLC bought a new position in Griffon during the 2nd quarter valued at approximately $60,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Griffon by 966.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,825 shares of the conglomerate’s stock worth $79,000 after acquiring an additional 2,560 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GFF. StockNews.com started coverage on Griffon in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet lowered Griffon from a “b” rating to a “c” rating in a research report on Thursday, November 17th.

Griffon Stock Performance

Shares of GFF stock traded up $0.16 during trading hours on Thursday, reaching $36.24. 391,106 shares of the company’s stock were exchanged, compared to its average volume of 380,408. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.29 and a current ratio of 2.87. Griffon Co. has a fifty-two week low of $17.56 and a fifty-two week high of $36.68. The stock’s 50 day moving average is $31.67 and its 200-day moving average is $30.46.

Griffon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Tuesday, November 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.10%. This is a positive change from Griffon’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, November 28th. Griffon’s dividend payout ratio is presently -9.45%.

Griffon Company Profile

(Get Rating)

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools, as well as cleaning products for professional, home, and industrial use.

See Also

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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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