LSV Asset Management Buys Shares of 155,522 Griffon Co. (NYSE:GFF)

LSV Asset Management purchased a new stake in Griffon Co. (NYSE:GFF) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 155,522 shares of the conglomerate’s stock, valued at approximately $9,479,000. LSV Asset Management owned approximately 0.30% of Griffon at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. lifted its stake in Griffon by 22.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,598,353 shares of the conglomerate’s stock valued at $97,420,000 after buying an additional 289,208 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Griffon during the third quarter valued at $6,316,000. Raymond James & Associates increased its position in Griffon by 22.6% during the 4th quarter. Raymond James & Associates now owns 529,181 shares of the conglomerate’s stock worth $32,254,000 after purchasing an additional 97,390 shares in the last quarter. Federated Hermes Inc. acquired a new position in Griffon in the 3rd quarter valued at about $3,817,000. Finally, Assenagon Asset Management S.A. purchased a new position in Griffon in the 4th quarter valued at about $5,606,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Trading Down 3.0 %

NYSE GFF opened at $67.75 on Wednesday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46. Griffon Co. has a one year low of $29.11 and a one year high of $75.18. The company’s 50 day moving average price is $69.68 and its 200 day moving average price is $60.01. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 50.56 and a beta of 1.43.

Griffon (NYSE:GFF) last posted its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.29. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The business had revenue of $643.20 million for the quarter, compared to analyst estimates of $595.87 million. During the same quarter in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts predict that Griffon Co. will post 4.56 EPS for the current year.

Analysts Set New Price Targets

GFF has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of Griffon from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Raymond James raised their price objective on Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Monday, February 5th. Deutsche Bank Aktiengesellschaft increased their target price on Griffon from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Finally, StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Strong Buy” and a consensus price target of $69.50.

Insider Transactions at Griffon

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

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.