Boothbay Fund Management LLC grew its position in Griffon Co. (NYSE:GFF – Free Report) by 32.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 481,715 shares of the conglomerate’s stock after purchasing an additional 117,429 shares during the period. Griffon makes up approximately 0.3% of Boothbay Fund Management LLC’s investment portfolio, making the stock its 26th largest holding. Boothbay Fund Management LLC owned 0.84% of Griffon worth $15,420,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC bought a new position in Griffon in the first quarter valued at $478,000. Captrust Financial Advisors grew its holdings in shares of Griffon by 64.5% in the 1st quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock valued at $55,000 after acquiring an additional 1,080 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Griffon in the second quarter valued at about $80,000. UBS Group AG raised its holdings in Griffon by 116.6% during the third quarter. UBS Group AG now owns 3,373 shares of the conglomerate’s stock worth $99,000 after acquiring an additional 1,816 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Griffon by 2,148.9% in the first quarter. Tower Research Capital LLC TRC now owns 4,093 shares of the conglomerate’s stock valued at $132,000 after purchasing an additional 3,911 shares in the last quarter. 73.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on Griffon in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company.
Griffon Stock Performance
Shares of Griffon stock remained flat at $40.32 during trading on Friday. 349,926 shares of the stock traded hands, compared to its average volume of 298,649. The company has a debt-to-equity ratio of 4.58, a current ratio of 2.96 and a quick ratio of 1.51. The stock has a fifty day moving average of $41.40 and a two-hundred day moving average of $35.94. The firm has a market cap of $2.20 billion, a PE ratio of -5.46 and a beta of 1.59. Griffon Co. has a one year low of $25.97 and a one year high of $43.90.
Griffon (NYSE:GFF – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.30. Griffon had a positive return on equity of 54.04% and a negative net margin of 13.85%. The firm had revenue of $683.40 million for the quarter, compared to analyst estimates of $703.86 million. During the same quarter in the prior year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. Equities research analysts forecast that Griffon Co. will post 4.14 EPS for the current fiscal year.
Griffon Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, August 22nd. Griffon’s dividend payout ratio is -6.77%.
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.
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