LSV Asset Management Sells 46,500 Shares of Griffon Co. (NYSE:GFF)

LSV Asset Management reduced its holdings in Griffon Co. (NYSE:GFF) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 789,195 shares of the conglomerate’s stock after selling 46,500 shares during the period. LSV Asset Management’s holdings in Griffon were worth $56,246,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GFF. New Age Alpha Advisors LLC acquired a new stake in shares of Griffon in the fourth quarter worth $30,000. Grove Bank & Trust acquired a new stake in Griffon in the 4th quarter worth $33,000. R Squared Ltd bought a new position in shares of Griffon during the 4th quarter worth about $37,000. Headlands Technologies LLC acquired a new position in shares of Griffon during the fourth quarter valued at about $64,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Griffon by 343.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate’s stock valued at $78,000 after buying an additional 845 shares during the period. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Stock Performance

Shares of NYSE:GFF opened at $69.80 on Friday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 14.24 and a beta of 1.26. The business’s fifty day moving average price is $72.52 and its two-hundred day moving average price is $72.91. Griffon Co. has a fifty-two week low of $55.01 and a fifty-two week high of $86.73. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.34.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.11. Griffon had a net margin of 9.13% and a return on equity of 120.61%. As a group, analysts predict that Griffon Co. will post 5.55 EPS for the current fiscal year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Tuesday, February 25th. Griffon’s payout ratio is currently 14.69%.

Insider Buying and Selling

In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.80, for a total value of $242,400.00. Following the transaction, the director now owns 30,730 shares of the company’s stock, valued at approximately $2,482,984. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GFF shares. Raymond James restated a “strong-buy” rating and set a $95.00 price target (up from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Loop Capital upgraded Griffon to a “strong-buy” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on Griffon in a research report on Tuesday, April 1st. They issued a “buy” rating and a $91.00 target price for the company. Stephens boosted their price target on shares of Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Griffon presently has a consensus rating of “Buy” and a consensus target price of $97.20.

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.