SummerHaven Investment Management LLC Raises Holdings in Griffon Co. (NYSE:GFF)

SummerHaven Investment Management LLC boosted its position in Griffon Co. (NYSE:GFF) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,361 shares of the conglomerate’s stock after buying an additional 193 shares during the period. Griffon makes up approximately 0.7% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. SummerHaven Investment Management LLC’s holdings in Griffon were worth $1,058,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Griffon by 11.2% during the 4th quarter. Russell Investments Group Ltd. now owns 3,336 shares of the conglomerate’s stock worth $203,000 after buying an additional 336 shares during the period. GAMMA Investing LLC purchased a new position in shares of Griffon during the 4th quarter worth $30,000. Parkside Financial Bank & Trust boosted its holdings in Griffon by 671.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 557 shares during the period. Significant Wealth Partners LLC purchased a new position in Griffon during the 4th quarter valued at about $262,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Griffon by 17.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,327 shares of the conglomerate’s stock valued at $447,000 after purchasing an additional 1,062 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Insider Activity

In related news, Director James W. Sight sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 18,843 shares of the company’s stock, valued at approximately $1,269,641.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.10% of the company’s stock.

Griffon Trading Down 0.1 %

Shares of NYSE:GFF traded down $0.10 on Monday, hitting $68.17. The company had a trading volume of 40,432 shares, compared to its average volume of 372,349. Griffon Co. has a 1 year low of $28.00 and a 1 year high of $75.18. The company has a quick ratio of 1.24, a current ratio of 2.46 and a debt-to-equity ratio of 5.02. The firm’s 50-day simple moving average is $69.71 and its two-hundred day simple moving average is $58.61. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 50.95 and a beta of 1.41.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.29. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The firm had revenue of $643.20 million for the quarter, compared to the consensus estimate of $595.87 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts anticipate that Griffon Co. will post 4.52 earnings per share for the current fiscal year.

Griffon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.88%. Griffon’s payout ratio is presently 44.78%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. StockNews.com lowered Griffon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 2nd. Robert W. Baird increased their price objective on Griffon from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Raymond James increased their target price on shares of Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Monday, February 5th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Griffon currently has a consensus rating of “Buy” and a consensus target price of $69.50.

Griffon 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.