Rock Creek Group LP Has $2.85 Million Position in Griffon Co. (NYSE:GFF)

Rock Creek Group LP lowered its stake in Griffon Co. (NYSE:GFF) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the conglomerate’s stock after selling 10,000 shares during the period. Griffon accounts for 0.2% of Rock Creek Group LP’s portfolio, making the stock its 21st largest position. Rock Creek Group LP owned 0.08% of Griffon worth $2,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of GFF. Raymond James Financial Inc. acquired a new stake in Griffon in the fourth quarter worth about $43,325,000. Norges Bank bought a new position in shares of Griffon in the 4th quarter valued at about $21,451,000. Point72 Asset Management L.P. grew its holdings in Griffon by 74.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 473,490 shares of the conglomerate’s stock worth $33,144,000 after acquiring an additional 202,685 shares during the period. abrdn plc bought a new stake in Griffon in the fourth quarter valued at about $12,842,000. Finally, Vanguard Group Inc. boosted its holdings in Griffon by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate’s stock worth $454,406,000 after buying an additional 177,771 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Griffon Price Performance

Shares of GFF opened at $70.53 on Friday. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 14.39 and a beta of 1.40. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44. The company’s fifty day simple moving average is $74.07 and its 200 day simple moving average is $72.76. Griffon Co. has a 1-year low of $55.01 and a 1-year high of $86.73.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. Griffon had a net margin of 9.13% and a return on equity of 120.61%. On average, research analysts forecast that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.72 annualized dividend and a dividend yield of 1.02%. Griffon’s dividend payout ratio is currently 14.69%.

Analyst Upgrades and Downgrades

GFF has been the topic of several recent analyst reports. StockNews.com lowered shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Loop Capital raised shares of Griffon to a “strong-buy” rating in a report on Friday, February 14th. Raymond James reaffirmed a “strong-buy” rating and set a $95.00 price objective (up previously from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Finally, Stephens increased their price target on Griffon from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $98.75.

Insider Buying and Selling

In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of Griffon stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the completion of the transaction, the director now directly owns 30,730 shares of the company’s stock, valued at $2,482,984. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.20% of the stock is owned by insiders.

About Griffon

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.