Griffon Corporation $GFF Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. cut its holdings in shares of Griffon Corporation (NYSE:GFF) by 61.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,030 shares of the conglomerate’s stock after selling 9,654 shares during the period. Fox Run Management L.L.C.’s holdings in Griffon were worth $459,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in 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 boosted its stake in shares of Griffon by 33.0% during 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. McIlrath & Eck LLC grew its holdings in shares of Griffon by 43.4% during the third quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock worth $41,000 after buying an additional 163 shares during the last quarter. Measured Wealth Private Client Group LLC increased its position in Griffon by 4.2% in the 2nd quarter. Measured Wealth Private Client Group LLC now owns 4,768 shares of the conglomerate’s stock valued at $345,000 after acquiring an additional 193 shares during the period. Finally, Osaic Holdings Inc. raised its stake in Griffon by 11.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,329 shares of the conglomerate’s stock valued at $169,000 after acquiring an additional 234 shares during the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Griffon Price Performance

Griffon stock opened at $85.17 on Monday. 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 $63.92 and a one year high of $97.58. The company has a market cap of $3.97 billion, a P/E ratio of 92.58, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31. The business has a fifty day moving average of $83.38 and a two-hundred day moving average of $78.00.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, February 5th. The conglomerate reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $649.09 million during the quarter, compared to analysts’ expectations of $618.35 million. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 earnings per share. As a group, analysts predict that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.

Griffon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Griffon’s payout ratio is 95.65%.

Insider Buying and Selling

In other Griffon news, Director James W. Sight sold 3,070 shares of the business’s stock in a transaction 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 directly owned 13,872 shares in the company, valued at approximately $1,333,792.80. The trade was a 18.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Seth L. Kaplan sold 15,000 shares of the company’s stock in a transaction on Monday, February 9th. The shares were 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 directly owned 119,747 shares in the company, valued at $11,428,653.68. This trade represents a 11.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 10.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GFF. CJS Securities upgraded Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Stephens boosted their price objective on shares of Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Zacks Research cut shares of Griffon from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Griffon presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.50.

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.