Claybrook Capital LLC Has $913,000 Holdings in Griffon Co. (GFF)

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Claybrook Capital LLC raised its holdings in Griffon Co. (NYSE:GFF) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,551 shares of the conglomerate’s stock after buying an additional 5,000 shares during the period. Claybrook Capital LLC’s holdings in Griffon were worth $913,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GFF. BlackRock Inc. raised its stake in Griffon by 12.5% in the third quarter. BlackRock Inc. now owns 4,851,168 shares of the conglomerate’s stock valued at $78,348,000 after buying an additional 539,643 shares in the last quarter. Putnam Investments LLC increased its position in shares of Griffon by 570.4% during the second quarter. Putnam Investments LLC now owns 440,395 shares of the conglomerate’s stock worth $7,839,000 after purchasing an additional 374,700 shares in the last quarter. Gabelli Funds LLC increased its position in shares of Griffon by 21.9% during the second quarter. Gabelli Funds LLC now owns 2,058,393 shares of the conglomerate’s stock worth $36,639,000 after purchasing an additional 369,416 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Griffon during the second quarter worth about $5,634,000. Finally, Wells Fargo & Company MN increased its position in shares of Griffon by 106.7% during the second quarter. Wells Fargo & Company MN now owns 547,844 shares of the conglomerate’s stock worth $9,751,000 after purchasing an additional 282,845 shares in the last quarter. Institutional investors own 66.46% of the company’s stock.

GFF opened at $10.78 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.31 and a current ratio of 2.32. Griffon Co. has a one year low of $10.15 and a one year high of $23.55. The stock has a market cap of $492.38 million, a PE ratio of 14.00 and a beta of 1.58.

Griffon (NYSE:GFF) last posted its earnings results on Wednesday, November 14th. The conglomerate reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. Griffon had a return on equity of 6.94% and a net margin of 6.35%. The business had revenue of $545.51 million for the quarter, compared to analysts’ expectations of $590.58 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. As a group, equities research analysts anticipate that Griffon Co. will post 0.92 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, November 29th will be issued a dividend of $0.0725 per share. The ex-dividend date is Wednesday, November 28th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 2.69%. This is a positive change from Griffon’s previous quarterly dividend of $0.07. Griffon’s dividend payout ratio (DPR) is currently 38.16%.

In related news, SVP Seth L. Kaplan purchased 4,500 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were purchased at an average price of $11.62 per share, with a total value of $52,290.00. Following the completion of the acquisition, the senior vice president now directly owns 142,900 shares in the company, valued at approximately $1,660,498. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO W. Christopher Durborow purchased 2,550 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were bought at an average cost of $11.94 per share, for a total transaction of $30,447.00. Following the acquisition, the chief accounting officer now owns 10,782 shares of the company’s stock, valued at $128,737.08. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 95,044 shares of company stock worth $1,156,164. Corporate insiders own 24.80% of the company’s stock.

A number of analysts have recently commented on GFF shares. Sidoti cut their target price on Griffon from $26.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, November 15th. Zacks Investment Research cut Griffon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Deutsche Bank started coverage on Griffon in a research report on Friday, September 21st. They set a “hold” rating and a $18.00 target price on the stock. Robert W. Baird started coverage on Griffon in a research report on Thursday, September 13th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Griffon in a research report on Tuesday, October 30th. They set an “underweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.50.

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Griffon Company Profile

Griffon Corporation, through its subsidiaries, engages in the home and building products, and defense electronics businesses primarily in the United States, Canada, Australia, the United Kingdom, Mexico, and China. The company's Home & Building Products segment manufactures and markets 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; residential and commercial garage doors to professional dealers and various home center retail chains; and rolling steel door and grille products designed for commercial, industrial, institutional, and retail uses, as well as long-handled tools and landscaping products for homeowners and professionals.

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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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