US Bancorp DE Acquires 459 Shares of Griffon Co. (NYSE:GFF)

US Bancorp DE increased its holdings in shares of Griffon Co. (NYSE:GFF – Get Rating) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 25,867 shares of the conglomerate’s stock after buying an additional 459 shares during the period. US Bancorp DE’s holdings in Griffon were worth $764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in shares of Griffon during the third quarter valued at $667,000. Bailard Inc. bought a new position in shares of Griffon during the second quarter valued at $609,000. PDT Partners LLC bought a new position in shares of Griffon during the second quarter valued at $1,893,000. Counterpoint Mutual Funds LLC bought a new position in shares of Griffon during the second quarter valued at $129,000. Finally, Voss Capital LLC lifted its holdings in shares of 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. 74.15% of the stock is owned by institutional investors.

Griffon Stock Down 0.9 %

Griffon stock opened at $38.00 on Friday. The stock has a market cap of $2.17 billion, a PE ratio of -9.97 and a beta of 1.51. 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 fifty day moving average of $36.05 and a 200 day moving average of $32.58.

Griffon (NYSE:GFF – Get Rating) last issued its quarterly earnings results on Thursday, November 17th. The conglomerate reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.25. The business had revenue of $708.94 million during the quarter, compared to analysts’ expectations of $703.00 million. Griffon had a positive return on equity of 28.77% and a negative net margin of 6.72%. As a group, sell-side analysts predict that Griffon Co. will post 3.65 EPS for the current year.

Griffon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Tuesday, November 29th were given a $0.10 dividend. This is a boost from Griffon’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, November 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. Griffon’s dividend payout ratio is presently -10.50%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GFF shares. TheStreet cut 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 report on Wednesday, October 12th. They set a “hold” rating for the company.

Griffon Profile

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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.