Griffon Corporation $GFF Holdings Trimmed by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt reduced its position in shares of Griffon Corporation (NYSE:GFF) by 14.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 54,009 shares of the conglomerate’s stock after selling 9,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Griffon were worth $4,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Nisa Investment Advisors LLC grew its holdings in shares of Griffon by 15.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,040 shares of the conglomerate’s stock valued at $79,000 after buying an additional 142 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Griffon by 33.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 142 shares in the last quarter. Equitable Holdings Inc. lifted its stake in Griffon by 4.0% in the 3rd quarter. Equitable Holdings Inc. now owns 3,811 shares of the conglomerate’s stock worth $290,000 after acquiring an additional 148 shares in the last quarter. McIlrath & Eck LLC boosted its position in Griffon by 43.4% during the 3rd quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 163 shares during the period. Finally, Measured Wealth Private Client Group LLC boosted its position in Griffon by 4.2% during the 2nd quarter. Measured Wealth Private Client Group LLC now owns 4,768 shares of the conglomerate’s stock worth $345,000 after acquiring an additional 193 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

GFF has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a report on Monday, December 29th. Zacks Research cut shares of Griffon from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Robert W. Baird set a $108.00 price objective on shares of Griffon in a research note on Friday, February 6th. Stephens increased their target price on shares of Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised shares of Griffon from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.50.

Insider Activity at Griffon

In related news, Director James W. Sight sold 3,070 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $96.15, for a total value of $295,180.50. Following the completion of the sale, the director directly owned 13,872 shares in the company, valued at approximately $1,333,792.80. This represents a 18.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Seth L. Kaplan sold 15,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $95.44, for a total transaction of $1,431,600.00. Following the transaction, the senior vice president directly owned 119,747 shares in the company, valued at $11,428,653.68. The trade was a 11.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 10.20% of the company’s stock.

Griffon Stock Up 0.3%

GFF opened at $72.99 on Wednesday. Griffon Corporation has a fifty-two week low of $63.92 and a fifty-two week high of $97.58. The business has a 50-day moving average of $83.73 and a 200-day moving average of $78.13. The company has a debt-to-equity ratio of 12.36, a current ratio of 2.55 and a quick ratio of 1.27. The company has a market capitalization of $3.40 billion, a PE ratio of 79.34, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31.

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

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Friday, February 27th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, February 27th. Griffon’s payout ratio is currently 95.65%.

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.