Kavar Capital Partners Group LLC Acquires 2,600 Shares of Griffon Co. (NYSE:GFF)

Kavar Capital Partners Group LLC increased its holdings in Griffon Co. (NYSE:GFF – Get Rating) by 3.7% during the 2nd quarter, Holdings Channel reports. The firm owned 73,809 shares of the conglomerate’s stock after buying an additional 2,600 shares during the period. Kavar Capital Partners Group LLC’s holdings in Griffon were worth $2,069,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GFF. Envestnet Asset Management Inc. purchased a new stake in Griffon in the first quarter worth about $299,000. Victory Capital Management Inc. lifted its holdings in Griffon by 44.2% in the first quarter. Victory Capital Management Inc. now owns 26,758 shares of the conglomerate’s stock worth $501,000 after buying an additional 8,203 shares during the period. Advisor Group Holdings Inc. lifted its holdings in Griffon by 2,314.4% in the first quarter. Advisor Group Holdings Inc. now owns 30,977 shares of the conglomerate’s stock worth $620,000 after buying an additional 29,694 shares during the period. New York State Common Retirement Fund lifted its holdings in Griffon by 79.1% in the first quarter. New York State Common Retirement Fund now owns 61,222 shares of the conglomerate’s stock worth $1,226,000 after buying an additional 27,043 shares during the period. Finally, KBC Group NV purchased a new stake in Griffon in the first quarter worth about $86,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on GFF shares. StockNews.com assumed coverage on shares of Griffon in a report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet lowered shares of Griffon from a “b” rating to a “c” rating in a report on Thursday, November 17th.

Griffon Stock Performance

Shares of GFF stock traded up $0.02 during trading hours on Thursday, hitting $35.33. 6,990 shares of the company’s stock traded hands, compared to its average volume of 377,181. The stock’s fifty day simple moving average is $32.03 and its two-hundred day simple moving average is $30.88. Griffon Co. has a 12-month low of $17.56 and a 12-month high of $36.75. The company has a debt-to-equity ratio of 3.27, a current ratio of 2.87 and a quick ratio of 1.29.

Griffon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Tuesday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, November 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. This is an increase from Griffon’s previous quarterly dividend of $0.09. Griffon’s dividend payout ratio (DPR) is -10.50%.

Griffon Profile

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Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools, as well as cleaning products for professional, home, and industrial use.