Intech Investment Management LLC Decreases Stake in Griffon Corporation $GFF

Intech Investment Management LLC cut its holdings in Griffon Corporation (NYSE:GFF) by 27.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 39,226 shares of the conglomerate’s stock after selling 14,679 shares during the quarter. Intech Investment Management LLC’s holdings in Griffon were worth $2,889,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Voss Capital LP boosted its stake in shares of Griffon by 13.7% in the third quarter. Voss Capital LP now owns 1,535,000 shares of the conglomerate’s stock valued at $116,890,000 after buying an additional 185,000 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Griffon by 396.8% in the fourth quarter. SG Americas Securities LLC now owns 66,088 shares of the conglomerate’s stock valued at $4,867,000 after buying an additional 52,786 shares in the last quarter. MHR Fund Management LLC purchased a new stake in shares of Griffon in the third quarter valued at approximately $9,519,000. Moran Wealth Management LLC boosted its stake in shares of Griffon by 97.4% in the fourth quarter. Moran Wealth Management LLC now owns 52,258 shares of the conglomerate’s stock valued at $3,849,000 after buying an additional 25,790 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Griffon by 49.4% in the third quarter. New York State Common Retirement Fund now owns 19,774 shares of the conglomerate’s stock valued at $1,506,000 after buying an additional 6,542 shares in the last quarter. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Robert W. Baird set a $115.00 price target on Griffon in a research note on Friday, May 8th. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Stephens lifted their price target on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Griffon Stock Down 0.3%

GFF opened at $84.91 on Wednesday. The business’s fifty day moving average is $82.45 and its two-hundred day moving average is $80.35. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 653.17, a PEG ratio of 1.42 and a beta of 1.42. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58.

Griffon (NYSE:GFF) last posted its earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $421.86 million for the quarter, compared to the consensus estimate of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.Griffon’s quarterly revenue was down 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. Analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Griffon’s payout ratio is 676.92%.

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.