Significant Wealth Partners LLC Makes New $262,000 Investment in Griffon Co. (NYSE:GFF)

Significant Wealth Partners LLC purchased a new position in shares of Griffon Co. (NYSE:GFF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,292 shares of the conglomerate’s stock, valued at approximately $262,000.

A number of other large investors have also made changes to their positions in GFF. Pacer Advisors Inc. raised its holdings in Griffon by 22.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,598,353 shares of the conglomerate’s stock worth $97,420,000 after purchasing an additional 289,208 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Griffon during the 3rd quarter worth $6,316,000. Raymond James & Associates boosted its position in shares of Griffon by 22.6% in the 4th quarter. Raymond James & Associates now owns 529,181 shares of the conglomerate’s stock worth $32,254,000 after buying an additional 97,390 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Griffon in the 3rd quarter valued at about $3,817,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Griffon in the 4th quarter valued at about $5,606,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GFF has been the topic of several recent research reports. StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 2nd. Raymond James lifted their price objective on Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Monday, February 5th. Robert W. Baird increased their target price on Griffon from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Griffon from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Griffon presently has an average rating of “Buy” and an average target price of $69.50.

Insider Buying and Selling

In other Griffon news, Director James W. Sight sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $67.38, for a total transaction of $134,760.00. Following the completion of the sale, the director now owns 18,843 shares of the company’s stock, valued at $1,269,641.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 16.10% of the company’s stock.

Griffon Stock Up 0.8 %

Shares of NYSE GFF opened at $66.53 on Tuesday. The firm has a market cap of $3.39 billion, a P/E ratio of 49.65 and a beta of 1.41. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46. Griffon Co. has a 1 year low of $27.45 and a 1 year high of $75.18. The firm’s 50 day moving average price is $69.68 and its 200 day moving average price is $57.83.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Wednesday, February 7th. The conglomerate reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. The company had revenue of $643.20 million during the quarter, compared to analysts’ expectations of $595.87 million. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, sell-side analysts anticipate that Griffon Co. will post 4.52 earnings per share for the current year.

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. Griffon’s payout ratio is 44.78%.

Griffon Company Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.