AlphaQuest LLC Buys 15,171 Shares of Griffon Corporation $GFF

AlphaQuest LLC raised its stake in shares of Griffon Corporation (NYSE:GFF) by 104.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,628 shares of the conglomerate’s stock after acquiring an additional 15,171 shares during the period. AlphaQuest LLC’s holdings in Griffon were worth $2,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. increased its position in shares of Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 211 shares during the last quarter. Huntington National Bank increased its position in shares of Griffon by 645.0% during the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 387 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Griffon during the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC increased its position in shares of Griffon by 33.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. Finally, Clearstead Advisors LLC increased its position in shares of Griffon by 59.4% during the 4th quarter. Clearstead Advisors LLC now owns 687 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 256 shares during the last quarter. Institutional investors own 73.22% of the company’s stock.

Griffon Stock Up 1.8%

Shares of NYSE:GFF opened at $86.44 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. Griffon Corporation has a 12 month low of $65.01 and a 12 month high of $97.58. The company has a 50-day moving average price of $81.19 and a 200 day moving average price of $79.91. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 664.97, a PEG ratio of 1.42 and a beta of 1.46.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The firm had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. During the same quarter last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was down 31.0% compared to the same quarter last year. As a group, equities research analysts predict that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Griffon’s payout ratio is presently 676.92%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GFF. Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Robert W. Baird set a $115.00 target price on shares of Griffon in a report on Friday, May 8th. Weiss Ratings downgraded Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Stephens upped their price target on Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Griffon currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Griffon Company Profile

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.