OneDigital Investment Advisors LLC Invests $960,000 in Griffon Corporation $GFF

OneDigital Investment Advisors LLC acquired a new position in shares of Griffon Corporation (NYSE:GFF) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,848 shares of the conglomerate’s stock, valued at approximately $960,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Corient Private Wealth LLC lifted its position in Griffon by 3.4% in the fourth quarter. Corient Private Wealth LLC now owns 3,546 shares of the conglomerate’s stock valued at $261,000 after buying an additional 115 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Griffon by 1.3% during the fourth 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 last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Griffon by 1.5% during the fourth 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 last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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. Finally, EverSource Wealth Advisors LLC raised its stake in shares of 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. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Griffon Trading Down 2.0%

NYSE GFF opened at $102.07 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. Griffon Corporation has a 52 week low of $65.01 and a 52 week high of $108.57. The stock has a market capitalization of $4.62 billion, a PE ratio of 26.04 and a beta of 1.44. The firm has a 50 day moving average of $94.19 and a two-hundred day moving average of $86.97.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. The business had revenue of $481.37 million for the quarter, compared to analyst estimates of $457.70 million. Griffon had a net margin of 8.08% and a return on equity of 249.31%. The company’s revenue was down 21.5% on a year-over-year basis. During the same period last year, the business earned $1.50 EPS. As a group, research analysts expect that Griffon Corporation will post 5.41 EPS for the current fiscal year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. Griffon’s dividend payout ratio is 22.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GFF shares. Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Stephens boosted their target price on Griffon from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Griffon in a research note on Friday, August 7th. Robert W. Baird set a $125.00 price target on Griffon in a research report on Thursday, August 6th. Finally, Zacks Research raised Griffon from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Griffon has an average rating of “Buy” and a consensus target price of $122.50.

Insiders Place Their Bets

In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $102.42, for a total transaction of $10,242,000.00. Following the completion of the sale, the chief executive officer directly owned 1,684,297 shares of the company’s stock, valued at $172,505,698.74. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl L. Turnbull sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $106.12, for a total value of $318,360.00. Following the transaction, the director directly owned 30,039 shares of the company’s stock, valued at approximately $3,187,738.68. This represents a 9.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 298,757 shares of company stock valued at $29,818,460 in the last three months. Corporate insiders own 10.20% of the company’s stock.

Griffon Company 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.