Griffon Co. (NYSE:GFF) Stock Holdings Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Griffon Co. (NYSE:GFF) by 6.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,333 shares of the conglomerate’s stock after purchasing an additional 1,512 shares during the period. State of Alaska Department of Revenue’s holdings in Griffon were worth $1,633,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GFF. Louisiana State Employees Retirement System grew its holdings in shares of Griffon by 5.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the conglomerate’s stock valued at $1,386,000 after acquiring an additional 1,100 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Griffon by 120.6% during the third quarter. Assenagon Asset Management S.A. now owns 164,555 shares of the conglomerate’s stock valued at $11,519,000 after purchasing an additional 89,948 shares during the last quarter. Benson Investment Management Company Inc. purchased a new position in Griffon in the third quarter valued at about $3,182,000. Creative Planning acquired a new position in Griffon in the 3rd quarter worth about $502,000. Finally, Inspire Investing LLC raised its stake in shares of Griffon by 228.8% during the 3rd quarter. Inspire Investing LLC now owns 18,184 shares of the conglomerate’s stock worth $1,273,000 after purchasing an additional 12,653 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Insider Activity

In related news, CEO Ronald J. Kramer sold 100,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following the transaction, the chief executive officer now owns 2,260,746 shares of the company’s stock, valued at approximately $140,754,045.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following the sale, the chief executive officer now directly owns 2,260,746 shares of the company’s stock, valued at $140,754,045.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert F. Mehmel sold 912 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $70.06, for a total value of $63,894.72. Following the transaction, the chief operating officer now owns 746,611 shares in the company, valued at $52,307,566.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 260,464 shares of company stock valued at $17,244,450. 16.10% of the stock is owned by company insiders.

Griffon Trading Up 0.7 %

Shares of GFF stock opened at $63.32 on Friday. The business’s 50 day moving average is $66.43 and its two-hundred day moving average is $66.59. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. Griffon Co. has a 12 month low of $41.08 and a 12 month high of $77.99. The company has a market cap of $3.12 billion, a PE ratio of 16.98 and a beta of 1.31.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). The firm had revenue of $647.80 million for the quarter, compared to analyst estimates of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. Equities analysts predict that Griffon Co. will post 4.87 EPS for the current year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. Griffon’s dividend payout ratio (DPR) is presently 16.09%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GFF shares. StockNews.com downgraded Griffon from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Stephens restated an “overweight” rating and set a $85.00 price target on shares of Griffon in a research note on Tuesday, September 10th. Finally, Robert W. Baird lifted their price objective on shares of Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Griffon has an average rating of “Buy” and a consensus target price of $83.50.

About Griffon

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.