Strs Ohio Invests $307,000 in Griffon Co. (NYSE:GFF)

Strs Ohio purchased a new position in shares of Griffon Co. (NYSE:GFF – Get Rating) during the third quarter, Holdings Channel reports. The institutional investor purchased 10,400 shares of the conglomerate’s stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its position in shares of Griffon by 2.4% during the 1st quarter. BlackRock Inc. now owns 7,674,318 shares of the conglomerate’s stock worth $153,717,000 after buying an additional 181,416 shares in the last quarter. Vanguard Group Inc. boosted its position in Griffon by 7.4% during the first quarter. Vanguard Group Inc. now owns 5,656,744 shares of the conglomerate’s stock valued at $113,304,000 after purchasing an additional 388,996 shares in the last quarter. State Street Corp boosted its position in Griffon by 4.9% during the first quarter. State Street Corp now owns 1,929,225 shares of the conglomerate’s stock valued at $38,642,000 after purchasing an additional 90,502 shares in the last quarter. Voss Capital LLC boosted its position in Griffon by 40.3% during the second quarter. Voss Capital LLC now owns 1,830,000 shares of the conglomerate’s stock valued at $51,295,000 after purchasing an additional 525,878 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Griffon by 62.7% during the second quarter. Millennium Management LLC now owns 904,052 shares of the conglomerate’s stock valued at $25,341,000 after purchasing an additional 348,549 shares in the last quarter. Institutional investors own 74.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GFF. TheStreet downgraded Griffon from a “b” rating to a “c” rating in a research report on Thursday, November 17th. StockNews.com started coverage on Griffon in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Griffon Trading Down 0.5 %

Griffon stock opened at $38.36 on Friday. The stock has a 50-day moving average of $35.98 and a two-hundred day moving average of $32.51. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.29 and a current ratio of 2.87. Griffon Co. has a one year low of $17.56 and a one year high of $40.74. The stock has a market cap of $2.19 billion, a PE ratio of -10.07 and a beta of 1.51.

Griffon (NYSE:GFF – Get Rating) last released its quarterly earnings results on Thursday, November 17th. The conglomerate reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.25. Griffon had a positive return on equity of 28.77% and a negative net margin of 6.72%. The company had revenue of $708.94 million during the quarter, compared to analysts’ expectations of $703.00 million. On average, research analysts anticipate that Griffon Co. will post 3.65 EPS for the current fiscal year.

Griffon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Tuesday, November 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. This is a boost from Griffon’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, November 28th. Griffon’s dividend payout ratio (DPR) is presently -10.50%.

About Griffon

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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.