Griffon Corporation $GFF Stake Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in shares of Griffon Corporation (NYSE:GFF) by 28.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,244 shares of the conglomerate’s stock after acquiring an additional 37,205 shares during the period. Public Sector Pension Investment Board’s holdings in Griffon were worth $12,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in Griffon by 8,720.0% in the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 436 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Griffon by 151.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock valued at $32,000 after buying an additional 264 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Griffon in the 2nd quarter valued at approximately $37,000. McIlrath & Eck LLC increased its holdings in Griffon by 43.4% in the third quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock worth $41,000 after buying an additional 163 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Griffon by 33.0% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Insider Buying and Selling

In other news, SVP Seth L. Kaplan sold 15,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $95.44, for a total value of $1,431,600.00. Following the sale, the senior vice president owned 119,747 shares in the company, valued at approximately $11,428,653.68. This trade represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James W. Sight sold 3,070 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $96.15, for a total transaction of $295,180.50. Following the transaction, the director directly owned 13,872 shares in the company, valued at $1,333,792.80. This trade represents a 18.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on GFF shares. CJS Securities raised shares of Griffon to a “strong-buy” rating in a research report on Thursday, December 11th. Stephens upped their price objective on shares of Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Finally, Robert W. Baird set a $108.00 price target on Griffon in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $103.50.

Griffon Stock Performance

Shares of GFF opened at $93.52 on Monday. The company has a market capitalization of $4.36 billion, a PE ratio of 101.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.33. The company has a debt-to-equity ratio of 12.36, a current ratio of 2.55 and a quick ratio of 1.27. Griffon Corporation has a one year low of $63.92 and a one year high of $97.58. The company’s fifty day moving average price is $80.95 and its 200 day moving average price is $77.09.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $649.09 million for the quarter, compared to the consensus estimate of $618.35 million. Griffon had a return on equity of 228.83% and a net margin of 1.76%.The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. As a group, analysts expect that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Friday, February 27th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Griffon’s payout ratio is currently 95.65%.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.