LSV Asset Management Makes New $9.48 Million Investment in Griffon Co. (NYSE:GFF)

LSV Asset Management acquired a new position in Griffon Co. (NYSE:GFF) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 155,522 shares of the conglomerate’s stock, valued at approximately $9,479,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Griffon in the fourth quarter valued at approximately $30,000. Parkside Financial Bank & Trust increased its stake in shares of Griffon by 671.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 557 shares during the last quarter. Russell Investments Group Ltd. increased its position in Griffon by 11.2% during the fourth quarter. Russell Investments Group Ltd. now owns 3,336 shares of the conglomerate’s stock worth $203,000 after buying an additional 336 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Griffon in the fourth quarter valued at approximately $214,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Griffon in the fourth quarter valued at $236,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Price Performance

Shares of NYSE:GFF opened at $67.75 on Wednesday. Griffon Co. has a 12 month low of $29.11 and a 12 month high of $75.18. The stock has a market capitalization of $3.45 billion, a PE ratio of 50.56 and a beta of 1.43. The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 5.02. The firm has a 50 day moving average of $69.68 and a 200-day moving average of $60.01.

Griffon (NYSE:GFF) last released its quarterly earnings data on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.29. The business had revenue of $643.20 million for the quarter, compared to analyst estimates of $595.87 million. Griffon had a return on equity of 72.80% and a net margin of 2.65%. Griffon’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, equities research analysts predict that Griffon Co. will post 4.56 EPS for the current fiscal year.

Insider Buying and Selling at Griffon

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GFF shares. Robert W. Baird upped their target price on Griffon from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Raymond James increased 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy” and an average price target of $69.50.

About Griffon

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.