Griffon Co. (NYSE:GFF) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its position in shares of Griffon Co. (NYSE:GFFGet Rating) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,288 shares of the conglomerate’s stock after selling 1,176 shares during the quarter. Baird Financial Group Inc.’s holdings in Griffon were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GFF. Envestnet Asset Management Inc. purchased a new position in shares of Griffon during the 1st quarter worth approximately $299,000. Victory Capital Management Inc. raised its position in Griffon by 44.2% in the first quarter. Victory Capital Management Inc. now owns 26,758 shares of the conglomerate’s stock worth $501,000 after acquiring an additional 8,203 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in Griffon by 2,314.4% in the first quarter. Advisor Group Holdings Inc. now owns 30,977 shares of the conglomerate’s stock valued at $620,000 after acquiring an additional 29,694 shares during the period. New York State Common Retirement Fund boosted its position in shares of Griffon by 79.1% during the 1st quarter. New York State Common Retirement Fund now owns 61,222 shares of the conglomerate’s stock worth $1,226,000 after purchasing an additional 27,043 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of Griffon during the 1st quarter worth $86,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com began coverage on shares of Griffon in a report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet cut Griffon from a “b” rating to a “c” rating in a report on Thursday, November 17th.

Griffon Stock Performance

NYSE:GFF opened at $35.28 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.29 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $2.01 billion, a P/E ratio of -9.26 and a beta of 1.55. The firm has a 50-day moving average price of $31.52 and a two-hundred day moving average price of $30.33. Griffon Co. has a twelve month low of $17.56 and a twelve month high of $36.37.

Griffon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Tuesday, November 29th will be given a dividend of $0.10 per share. This is an increase from Griffon’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, November 28th. Griffon’s payout ratio is currently -9.45%.

Griffon Profile

(Get Rating)

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools, as well as cleaning products for professional, home, and industrial use.

Further Reading

Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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