Griffon Corporation $GFF Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in shares of Griffon Corporation (NYSE:GFF) by 79.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,500 shares of the conglomerate’s stock after selling 9,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Griffon were worth $233,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Griffon during the 2nd quarter valued at about $590,633,000. Renaissance Technologies LLC increased its holdings in Griffon by 18.9% in the first quarter. Renaissance Technologies LLC now owns 547,351 shares of the conglomerate’s stock worth $39,781,000 after purchasing an additional 87,100 shares in the last quarter. SummitTX Capital L.P. increased its holdings in Griffon by 42.9% in the first quarter. SummitTX Capital L.P. now owns 415,531 shares of the conglomerate’s stock worth $30,201,000 after purchasing an additional 124,750 shares in the last quarter. Primecap Management Co. CA bought a new stake in Griffon in the second quarter worth approximately $40,177,000. Finally, Bessemer Group Inc. lifted its stake in Griffon by 68.1% in the first quarter. Bessemer Group Inc. now owns 391,441 shares of the conglomerate’s stock valued at $28,450,000 after buying an additional 158,592 shares during the period. 73.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Griffon news, Director Cheryl Turnbull sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $106.12, for a total value of $318,360.00. Following the transaction, the director owned 30,039 shares in the company, valued at approximately $3,187,738.68. This represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert Mehmel sold 7,743 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $107.62, for a total value of $833,301.66. Following the completion of the transaction, the chief operating officer owned 715,289 shares in the company, valued at approximately $76,979,402.18. The trade was a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 17,483 shares of company stock valued at $1,868,425. 10.20% of the stock is owned by company insiders.

Griffon Stock Performance

Shares of GFF opened at $101.18 on Monday. The company has a debt-to-equity ratio of 9.75, a current ratio of 2.41 and a quick ratio of 1.79. The stock has a 50-day moving average of $96.25 and a 200-day moving average of $89.78. The company has a market cap of $4.58 billion, a PE ratio of 25.81 and a beta of 1.50. Griffon Corporation has a one year low of $65.01 and a one year high of $109.00.

Analyst Ratings Changes

GFF has been the topic of a number of research analyst reports. Weiss Ratings upgraded Griffon from a “hold (c-)” rating to a “buy (b)” rating in a report on Tuesday, September 22nd. Zacks Research downgraded shares of Griffon from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Stephens lifted their price objective on shares of Griffon from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $125.00 target price on shares of Griffon in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $122.50.

Griffon Profile

Griffon Corporation is a diversified management and holding company whose businesses make products for homes, buildings, gardens and outdoor spaces. Its operations are organized into Home and Building Products and Consumer and Professional Products.

The Home and Building Products segment includes Clopay, which makes residential and commercial garage doors, and CornellCookson, which produces rolling steel doors and security grilles. The Consumer and Professional Products segment sells lawn and garden tools, landscaping products and home organization products through brands including AMES, True Temper and ClosetMaid.

Griffon’s businesses serve customers primarily in North America, as well as in markets including Australia and Europe.