Gamco Investors INC. ET AL Sells 6,919 Shares of Griffon Corporation $GFF

Gamco Investors INC. ET AL lessened its stake in shares of Griffon Corporation (NYSE:GFF) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 512,145 shares of the conglomerate’s stock after selling 6,919 shares during the period. Gamco Investors INC. ET AL’s holdings in Griffon were worth $37,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its holdings in shares of Griffon by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock valued at $658,000 after purchasing an additional 136 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Griffon by 15.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,040 shares of the conglomerate’s stock valued at $79,000 after purchasing an additional 142 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Griffon by 33.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. Equitable Holdings Inc. boosted its holdings in shares of Griffon by 4.0% during the 3rd quarter. Equitable Holdings Inc. now owns 3,811 shares of the conglomerate’s stock valued at $290,000 after purchasing an additional 148 shares during the last quarter. Finally, Guidance Capital Inc. boosted its holdings in shares of Griffon by 2.3% during the 4th quarter. Guidance Capital Inc. now owns 7,583 shares of the conglomerate’s stock valued at $558,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 73.22% of the company’s stock.

Griffon Stock Up 0.1%

Shares of NYSE GFF opened at $81.92 on Monday. The firm’s 50-day moving average price is $79.95 and its 200-day moving average price is $79.45. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 630.23, a P/E/G ratio of 1.37 and a beta of 1.46. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $97.58.

Griffon (NYSE:GFF) last announced its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $421.86 million for the quarter, compared to analysts’ expectations of $414.63 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The business’s revenue was down 31.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. On average, equities research analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, May 29th. Griffon’s dividend payout ratio is currently 676.92%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings downgraded shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Robert W. Baird set a $115.00 price objective on shares of Griffon in a report on Friday, May 8th. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Stephens upped their target price on shares of Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

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.