Strs Ohio Raises Stock Position in Griffon Corporation $GFF

Strs Ohio raised its holdings in Griffon Corporation (NYSE:GFF) by 14,100.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,400 shares of the conglomerate’s stock after acquiring an additional 28,200 shares during the period. Strs Ohio’s holdings in Griffon were worth $2,092,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GFF. Nisa Investment Advisors LLC grew its stake in shares of Griffon by 15.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,040 shares of the conglomerate’s stock worth $79,000 after purchasing an additional 142 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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. Equitable Holdings Inc. raised its stake in Griffon by 4.0% during the third quarter. Equitable Holdings Inc. now owns 3,811 shares of the conglomerate’s stock worth $290,000 after purchasing an additional 148 shares during the period. McIlrath & Eck LLC grew its stake in shares of Griffon by 43.4% in the 3rd quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock valued at $41,000 after buying an additional 163 shares during the period. Finally, Guidance Capital Inc. increased its holdings in shares of Griffon by 2.3% during the 4th quarter. Guidance Capital Inc. now owns 7,583 shares of the conglomerate’s stock worth $558,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Insider Buying and Selling

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

Griffon Price Performance

Shares of NYSE GFF opened at $91.07 on Wednesday. The company has a debt-to-equity ratio of 12.36, a quick ratio of 1.27 and a current ratio of 2.55. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58. The firm has a market capitalization of $4.24 billion, a P/E ratio of 98.98, a PEG ratio of 1.48 and a beta of 1.46. The company’s fifty day moving average is $79.69 and its two-hundred day moving average is $78.85.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $649.09 million during the quarter, compared to the consensus estimate of $618.35 million. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 EPS. Analysts forecast that Griffon Corporation will post 5.16 EPS for the current fiscal year.

Griffon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Friday, February 27th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, February 27th. Griffon’s dividend payout ratio (DPR) is presently 95.65%.

Wall Street Analysts Forecast Growth

GFF has been the subject of several analyst reports. Wall Street Zen upgraded Griffon from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Stephens raised their target price on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a research report on Friday, March 27th. Zacks Research downgraded shares of Griffon from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Finally, Robert W. Baird set a $108.00 price target on Griffon in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.67.

About Griffon

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.