GAMMA Investing LLC Takes Position in Griffon Co. (NYSE:GFF)

GAMMA Investing LLC bought a new position in shares of Griffon Co. (NYSE:GFF) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 510 shares of the conglomerate’s stock, valued at approximately $30,000.

Other large investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in shares of Griffon by 671.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 557 shares during the period. SG Americas Securities LLC acquired a new stake in Griffon during the fourth quarter worth about $214,000. Everence Capital Management Inc. bought a new position in Griffon during the fourth quarter valued at about $236,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Griffon by 31.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,265 shares of the conglomerate’s stock valued at $249,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Griffon in the 3rd quarter worth approximately $251,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director James W. Sight sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $67.38, for a total value of $134,760.00. Following the completion of the sale, the director now directly owns 18,843 shares in the company, valued at $1,269,641.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 16.10% of the company’s stock.

Griffon Stock Up 0.6 %

Shares of NYSE GFF opened at $69.13 on Monday. Griffon Co. has a 52-week low of $29.11 and a 52-week high of $75.18. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46. The business has a fifty day moving average of $69.71 and a two-hundred day moving average of $59.59. The stock has a market cap of $3.52 billion, a PE ratio of 51.59 and a beta of 1.43.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.29. The firm had revenue of $643.20 million during the quarter, compared to the consensus estimate of $595.87 million. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. As a group, equities research analysts expect that Griffon Co. will post 4.56 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a $0.15 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.87%. Griffon’s payout ratio is 44.78%.

Wall Street Analyst Weigh In

GFF has been the subject of a number of recent research reports. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Raymond James lifted their target price on shares of Griffon from $60.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Monday, February 5th. Finally, Robert W. Baird increased their price target on shares of Griffon from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $69.50.

Griffon Company Profile

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.