Griffon Co. (NYSE:GFF) Stake Lessened by Vanguard Group Inc.

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Vanguard Group Inc. lessened its stake in Griffon Co. (NYSE:GFF) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,885,190 shares of the conglomerate’s stock after selling 9,380 shares during the period. Vanguard Group Inc. owned about 8.30% of Griffon worth $65,737,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Trust Co. of Vermont bought a new stake in shares of Griffon in the second quarter worth $25,000. Acadian Asset Management LLC bought a new stake in shares of Griffon in the second quarter worth $30,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Griffon in the second quarter worth $193,000. Oregon Public Employees Retirement Fund increased its stake in shares of Griffon by 5.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,792 shares of the conglomerate’s stock worth $233,000 after buying an additional 702 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Griffon by 24.4% during the second quarter. JPMorgan Chase & Co. now owns 15,701 shares of the conglomerate’s stock valued at $260,000 after purchasing an additional 3,083 shares during the last quarter. Institutional investors and hedge funds own 67.63% of the company’s stock.

GFF stock opened at $20.08 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.62 and a quick ratio of 1.43. Griffon Co. has a 1-year low of $9.65 and a 1-year high of $21.61. The firm has a fifty day moving average price of $19.32 and a two-hundred day moving average price of $17.69. The firm has a market cap of $936.95 million, a price-to-earnings ratio of 18.89 and a beta of 2.14.

Griffon (NYSE:GFF) last released its earnings results on Thursday, August 1st. The conglomerate reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. Griffon had a net margin of 0.91% and a return on equity of 9.39%. The firm had revenue of $574.97 million during the quarter, compared to analyst estimates of $544.20 million. As a group, analysts expect that Griffon Co. will post 1.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.072 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.29 annualized dividend and a yield of 1.43%. Griffon’s payout ratio is 38.16%.

Several research firms have weighed in on GFF. Zacks Investment Research lowered shares of Griffon from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. ValuEngine lowered shares of Griffon from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. TheStreet upgraded shares of Griffon from a “c+” rating to a “b-” rating in a research note on Wednesday, August 21st. Finally, Sidoti boosted their target price on shares of Griffon from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Griffon currently has an average rating of “Hold” and an average price target of $21.33.

Griffon Company Profile

Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.

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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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