Riverwater Partners LLC Grows Stock Holdings in Griffon Corporation $GFF

Riverwater Partners LLC boosted its stake in Griffon Corporation (NYSE:GFF) by 103.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,948 shares of the conglomerate’s stock after acquiring an additional 6,581 shares during the quarter. Riverwater Partners LLC’s holdings in Griffon were worth $986,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Griffon by 11.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,500 shares of the conglomerate’s stock valued at $6,587,000 after purchasing an additional 8,773 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Griffon by 10.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,647 shares of the conglomerate’s stock worth $278,000 after purchasing an additional 333 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Griffon during the third quarter valued at approximately $220,000. Arcadia Investment Management Corp MI grew its position in shares of Griffon by 23.9% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 52,911 shares of the conglomerate’s stock worth $4,029,000 after acquiring an additional 10,210 shares in the last quarter. Finally, Janney Capital Management LLC bought a new stake in shares of Griffon in the 3rd quarter valued at approximately $279,000. 73.22% of the stock is owned by institutional investors and hedge funds.

Griffon Trading Up 0.1%

NYSE:GFF opened at $83.60 on Tuesday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 83.60, a PEG ratio of 1.22 and a beta of 1.31. The business has a fifty day moving average of $76.75 and a 200-day moving average of $76.29. Griffon Corporation has a 1 year low of $63.92 and a 1 year high of $86.11. The company has a debt-to-equity ratio of 18.99, a quick ratio of 1.34 and a current ratio of 2.66.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, November 19th. The conglomerate reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.02). The company had revenue of $662.18 million during the quarter, compared to the consensus estimate of $631.47 million. Griffon had a net margin of 2.03% and a return on equity of 181.66%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business earned $1.47 earnings per share. Equities analysts predict that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Friday, November 28th were paid a dividend of $0.22 per share. This is an increase from Griffon’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. Griffon’s dividend payout ratio (DPR) is 88.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stephens lifted their price objective on shares of Griffon from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. CJS Securities upgraded shares of Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of Griffon in a research note on Monday, December 29th. Wall Street Zen upgraded Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $95.60.

Griffon Profile

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.