Voss Capital LP Increases Stake in Griffon Corporation $GFF

Voss Capital LP grew its holdings in shares of Griffon Corporation (NYSE:GFF) by 14.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,760,000 shares of the conglomerate’s stock after buying an additional 225,000 shares during the period. Griffon makes up 6.2% of Voss Capital LP’s investment portfolio, making the stock its 4th largest holding. Voss Capital LP’s holdings in Griffon were worth $129,624,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its stake in Griffon by 1.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate’s stock valued at $759,000 after acquiring an additional 132 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Griffon by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock valued at $658,000 after acquiring an additional 136 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Griffon by 30.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 585 shares of the conglomerate’s stock valued at $43,000 after acquiring an additional 137 shares during the period. EverSource Wealth Advisors LLC raised its stake in Griffon by 33.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 142 shares during the period. Finally, Equitable Holdings Inc. raised its stake in Griffon by 4.0% in the 3rd quarter. Equitable Holdings Inc. now owns 3,811 shares of the conglomerate’s stock valued at $290,000 after acquiring an additional 148 shares during the period. 73.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Robert W. Baird set a $115.00 target price on Griffon in a report on Friday, May 8th. Finally, Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Griffon currently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Griffon Stock Performance

Shares of GFF opened at $94.01 on Friday. The company has a market cap of $4.31 billion, a PE ratio of 723.20 and a beta of 1.42. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. The stock has a 50-day moving average price of $85.65 and a 200-day moving average price of $81.51. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $97.58.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The company’s revenue for the quarter was down 31.0% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. As a group, equities analysts forecast that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, May 29th. Griffon’s dividend payout ratio (DPR) is 676.92%.

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.