Griffon Corporation $GFF Shares Sold by Intech Investment Management LLC

by · The Cerbat Gem

Intech Investment Management LLC lessened its holdings in shares of Griffon Corporation (NYSE:GFF – Free Report) by 27.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,226 shares of the conglomerate’s stock after selling 14,679 shares during the period. Intech Investment Management LLC owned 0.08% of Griffon worth $2,889,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in GFF. Royal Bank of Canada increased its position in Griffon by 20.2% during the first quarter. Royal Bank of Canada now owns 94,955 shares of the conglomerate’s stock worth $6,790,000 after buying an additional 15,925 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Griffon by 9.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate’s stock worth $1,676,000 after buying an additional 2,047 shares during the period. NewEdge Advisors LLC acquired a new position in Griffon during the first quarter worth approximately $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Griffon by 21.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,035 shares of the conglomerate’s stock worth $6,080,000 after buying an additional 14,764 shares during the period. Finally, Strs Ohio acquired a new position in Griffon during the first quarter worth approximately $57,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Analyst Ratings Changes

GFF has been the topic of several research analyst reports. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings lowered Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Robert W. Baird set a $115.00 price target on Griffon in a research report on Friday, May 8th. Finally, Stephens lifted their price target on Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Griffon presently has an average rating of “Moderate Buy” and an average price target of $115.00.

Get Our Latest Research Report on GFF

Griffon Trading Down 0.3%

Shares of GFF stock opened at $84.91 on Wednesday. The business’s 50 day moving average is $82.45 and its two-hundred day moving average is $80.35. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $97.58. The company has a market capitalization of $3.89 billion, a P/E ratio of 653.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.42. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77.

Griffon (NYSE:GFF – Get Free Report) last announced its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The company had revenue of $421.86 million for the quarter, compared to the consensus estimate of $414.63 million. During the same period last year, the business posted $1.23 EPS. The company’s revenue was down 31.0% on a year-over-year basis. Equities analysts forecast that Griffon Corporation will post 5.17 EPS for the current year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 29th. Griffon’s dividend payout ratio (DPR) is 676.92%.

Griffon Profile

(Free Report)

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.

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