Griffon Corporation $GFF Shares Purchased by Riverwater Partners LLC

Riverwater Partners LLC raised its stake in Griffon Corporation (NYSE:GFF) by 103.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,948 shares of the conglomerate’s stock after buying an additional 6,581 shares during the period. Riverwater Partners LLC’s holdings in Griffon were worth $986,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in Griffon by 151.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock worth $32,000 after buying an additional 264 shares during the period. IFP Advisors Inc boosted its stake in Griffon by 8,720.0% in the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 436 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Griffon during the 2nd quarter valued at $37,000. McIlrath & Eck LLC lifted its holdings in shares of Griffon by 43.4% in the third quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 163 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Griffon by 33.0% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock worth $41,000 after buying an additional 142 shares during the period. 73.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. CJS Securities upgraded Griffon to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Stephens boosted their target price on Griffon from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Griffon currently has a consensus rating of “Buy” and a consensus target price of $95.60.

Griffon Trading Up 0.1%

Shares of NYSE:GFF opened at $83.60 on Tuesday. The company has a market cap of $3.89 billion, a P/E ratio of 83.60, a P/E/G ratio of 1.22 and a beta of 1.31. The stock’s 50-day moving average is $76.75 and its 200-day moving average is $76.29. The company has a debt-to-equity ratio of 18.99, a quick ratio of 1.34 and a current ratio of 2.66. Griffon Corporation has a 52-week low of $63.92 and a 52-week high of $86.11.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, November 19th. The conglomerate reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.02). Griffon had a return on equity of 181.66% and a net margin of 2.03%.The company had revenue of $662.18 million during the quarter, compared to analyst estimates of $631.47 million. During the same quarter in the previous year, the business posted $1.47 EPS. The company’s revenue was up .4% on a year-over-year basis. Equities research analysts predict that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Friday, November 28th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.1%. This is an increase from Griffon’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, November 28th. Griffon’s dividend payout ratio (DPR) is 88.00%.

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.