Vise Technologies Inc. Purchases 5,776 Shares of Griffon Corporation $GFF

Vise Technologies Inc. increased its position in Griffon Corporation (NYSE:GFF) by 28.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,133 shares of the conglomerate’s stock after purchasing an additional 5,776 shares during the quarter. Vise Technologies Inc. owned approximately 0.06% of Griffon worth $2,431,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Griffon in the third quarter valued at approximately $219,000. Sterling Capital Management LLC raised its position in shares of Griffon by 274.5% in the third quarter. Sterling Capital Management LLC now owns 1,131 shares of the conglomerate’s stock valued at $105,000 after purchasing an additional 829 shares during the period. Nisa Investment Advisors LLC lifted its position in Griffon by 54.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,045 shares of the conglomerate’s stock worth $190,000 after acquiring an additional 724 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Griffon by 2,768.8% during the third quarter. Fortitude Family Office LLC now owns 459 shares of the conglomerate’s stock worth $43,000 after acquiring an additional 443 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Griffon by 15.6% during the third quarter. GAMMA Investing LLC now owns 3,522 shares of the conglomerate’s stock worth $328,000 after purchasing an additional 476 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GFF. Weiss Ratings raised Griffon from a “hold (c-)” rating to a “buy (b)” rating in a report on Tuesday, September 22nd. Robert W. Baird set a $125.00 price target on shares of Griffon in a research report on Thursday, August 6th. Stephens increased their price target on Griffon from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Zacks Research lowered Griffon from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $122.50.

Insider Activity

In other news, COO Robert Mehmel sold 3,240 shares of Griffon stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $107.16, for a total transaction of $347,198.40. Following the sale, the chief operating officer directly owned 723,032 shares of the company’s stock, valued at approximately $77,480,109.12. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Sullivan sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $105.59, for a total transaction of $369,565.00. Following the sale, the director directly owned 40,602 shares in the company, valued at $4,287,165.18. The trade was a 7.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 16,379 shares of company stock valued at $1,727,837. 10.20% of the stock is currently owned by corporate insiders.

Griffon Stock Performance

Griffon stock opened at $102.37 on Friday. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $109.00. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. The business’s 50-day moving average price is $96.22 and its two-hundred day moving average price is $89.69. The stock has a market cap of $4.64 billion, a PE ratio of 26.12 and a beta of 1.50.

Griffon (NYSE:GFF) last posted its earnings results on Wednesday, August 5th. The conglomerate reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.17. The firm had revenue of $481.37 million during the quarter, compared to analysts’ expectations of $457.70 million. Griffon had a net margin of 8.08% and a return on equity of 249.31%. The business’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 earnings per share. As a group, analysts expect that Griffon Corporation will post 5.40 earnings per share for the current fiscal year.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified manufacturer and holding company that develops, manufactures and distributes products for the home, building and consumer markets. The company operates through its Home and Building Products and Consumer and Professional Products businesses.

Its Home and Building Products operations include garage doors, rolling steel doors, security grilles, shutters and related building products sold under brands such as Clopay, Cornell, Cookson and Wayne Dalton.