Benson Investment Management Company Inc. Makes New $3.18 Million Investment in Griffon Co. (NYSE:GFF)

Benson Investment Management Company Inc. purchased a new position in shares of Griffon Co. (NYSE:GFFFree Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 45,463 shares of the conglomerate’s stock, valued at approximately $3,182,000. Benson Investment Management Company Inc. owned about 0.09% of Griffon at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GFF. LSV Asset Management lifted its holdings in shares of Griffon by 486.0% in the 1st quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock valued at $66,834,000 after purchasing an additional 755,773 shares during the last quarter. Lodge Hill Capital LLC lifted its holdings in shares of Griffon by 190.3% in the 2nd quarter. Lodge Hill Capital LLC now owns 251,700 shares of the conglomerate’s stock valued at $16,074,000 after purchasing an additional 165,000 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Griffon by 112.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 283,800 shares of the conglomerate’s stock valued at $18,123,000 after purchasing an additional 150,000 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Griffon in the 2nd quarter valued at about $7,433,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Griffon in the 2nd quarter valued at about $4,764,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and issued a $85.00 target price on shares of Griffon in a report on Tuesday, September 10th. Robert W. Baird reduced their price objective on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Griffon currently has a consensus rating of “Buy” and an average target price of $81.50.

Read Our Latest Report on Griffon

Griffon Stock Up 1.0 %

GFF opened at $68.76 on Tuesday. The business has a 50 day moving average price of $65.69 and a two-hundred day moving average price of $67.08. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. The company has a market cap of $3.41 billion, a PE ratio of 18.14 and a beta of 1.29. Griffon Co. has a 52 week low of $38.33 and a 52 week high of $77.99.

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

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.87%. The ex-dividend date was Wednesday, August 28th. Griffon’s payout ratio is 15.83%.

Insiders Place Their Bets

In other Griffon news, COO Robert F. Mehmel sold 1,205 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $70.11, for a total transaction of $84,482.55. Following the transaction, the chief operating officer now owns 754,046 shares in the company, valued at approximately $52,866,165.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kevin F. Sullivan sold 12,447 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the sale, the director now owns 50,390 shares in the company, valued at $3,275,350. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Robert F. Mehmel sold 1,205 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $70.11, for a total value of $84,482.55. Following the completion of the sale, the chief operating officer now owns 754,046 shares in the company, valued at approximately $52,866,165.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,020 shares of company stock worth $16,722,924. Company insiders own 16.10% of the company’s stock.

Griffon Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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