Kavar Capital Partners Group LLC Has $1.49 Million Position in Griffon Corporation (NYSE:GFF)

Kavar Capital Partners Group LLC grew its position in Griffon Corporation (NYSE:GFF) by 20.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,829 shares of the conglomerate’s stock after purchasing an additional 3,545 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Griffon were worth $1,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GFF. Fuller & Thaler Asset Management Inc. grew its position in shares of Griffon by 95,382.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate’s stock valued at $44,505,000 after purchasing an additional 623,803 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Griffon during the 4th quarter worth about $43,325,000. Norges Bank bought a new stake in Griffon during the 4th quarter valued at approximately $21,451,000. Invesco Ltd. grew its holdings in Griffon by 36.0% in the 4th quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate’s stock valued at $63,582,000 after buying an additional 236,179 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Griffon by 17,994.7% in the 1st quarter. GAMMA Investing LLC now owns 194,337 shares of the conglomerate’s stock worth $138,950,000 after buying an additional 193,263 shares during the period. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Stock Performance

GFF opened at $71.31 on Thursday. The stock’s 50 day simple moving average is $69.29 and its 200-day simple moving average is $72.01. The company has a current ratio of 2.78, a quick ratio of 1.48 and a debt-to-equity ratio of 7.12. The stock has a market cap of $3.35 billion, a PE ratio of 14.76, a P/E/G ratio of 0.79 and a beta of 1.15. Griffon Corporation has a 1 year low of $55.01 and a 1 year high of $86.73.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.10. Griffon had a net margin of 9.06% and a return on equity of 114.46%. The firm had revenue of $611.75 million for the quarter, compared to the consensus estimate of $618.23 million. During the same quarter in the previous year, the company earned $1.35 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. Sell-side analysts forecast that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Friday, May 30th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, May 30th. Griffon’s dividend payout ratio (DPR) is presently 14.91%.

Analyst Upgrades and Downgrades

GFF has been the subject of several research reports. Wall Street Zen raised Griffon from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 9th. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 price target (up from $95.00) on shares of Griffon in a research report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Griffon in a research report on Tuesday, April 1st. They set a “buy” rating and a $91.00 price objective for the company. Three investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy” and an average price target of $98.20.

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.