Lodge Hill Capital LLC Invests $11.04 Million in Griffon Corporation $GFF

Lodge Hill Capital LLC acquired a new position in shares of Griffon Corporation (NYSE:GFF) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 145,000 shares of the conglomerate’s stock, valued at approximately $11,042,000. Griffon accounts for about 2.0% of Lodge Hill Capital LLC’s holdings, making the stock its 18th largest position. Lodge Hill Capital LLC owned approximately 0.31% of Griffon at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GFF. Caitong International Asset Management Co. Ltd boosted its position in Griffon by 151.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 264 shares during the period. IFP Advisors Inc increased its holdings in shares of Griffon by 8,720.0% during the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 436 shares during the period. Osterweis Capital Management Inc. bought a new stake in shares of Griffon during the second quarter valued at about $37,000. McIlrath & Eck LLC lifted its holdings in Griffon by 43.4% in the third quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 163 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in 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 buying an additional 142 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Trading Down 1.9%

Griffon stock opened at $92.12 on Friday. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 100.13, a P/E/G ratio of 1.56 and a beta of 1.33. Griffon Corporation has a 52 week low of $63.92 and a 52 week high of $97.58. The company has a debt-to-equity ratio of 12.36, a quick ratio of 1.27 and a current ratio of 2.55. The company has a 50 day moving average price of $80.56 and a 200 day moving average price of $77.08.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, February 5th. The conglomerate reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. Griffon had a return on equity of 228.83% and a net margin of 1.76%.The firm had revenue of $649.09 million during the quarter, compared to analyst estimates of $618.35 million. During the same period last year, the company posted $1.39 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Friday, February 27th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Griffon’s payout ratio is presently 95.65%.

Insider Activity at Griffon

In other Griffon news, Director James W. Sight sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $96.15, for a total value of $295,180.50. Following the transaction, the director owned 13,872 shares in the company, valued at approximately $1,333,792.80. This represents a 18.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Seth L. Kaplan sold 15,000 shares of Griffon stock in a transaction on Monday, February 9th. The shares were sold at an average price of $95.44, for a total transaction of $1,431,600.00. Following the sale, the senior vice president directly owned 119,747 shares of the company’s stock, valued at $11,428,653.68. This trade represents a 11.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. CJS Securities raised Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Robert W. Baird set a $108.00 price objective on Griffon in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a research note on Monday, December 29th. Finally, Stephens boosted their price target on shares of Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $103.50.

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.