SkyView Investment Advisors LLC Sells 2,273 Shares of Griffon Co. (NYSE:GFF)

SkyView Investment Advisors LLC lessened its holdings in Griffon Co. (NYSE:GFF) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,396 shares of the conglomerate’s stock after selling 2,273 shares during the quarter. SkyView Investment Advisors LLC owned approximately 0.07% of Griffon worth $2,197,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Griffon in the 4th quarter valued at approximately $20,531,000. Advisory Services Network LLC bought a new position in shares of Griffon during the fourth quarter worth about $786,000. Capstone Investment Advisors LLC bought a new position in shares of Griffon during the fourth quarter worth about $212,000. Campbell & CO Investment Adviser LLC lifted its stake in shares of Griffon by 46.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 10,650 shares of the conglomerate’s stock worth $649,000 after acquiring an additional 3,380 shares during the period. Finally, Seven Eight Capital LP bought a new stake in Griffon in the fourth quarter valued at approximately $1,830,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Griffon

In other news, CEO Ronald J. Kramer sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,260,746 shares of the company’s stock, valued at $140,754,045.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following the sale, the chief executive officer now directly owns 2,260,746 shares in the company, valued at $140,754,045.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin F. Sullivan sold 12,447 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total value of $809,055.00. Following the completion of the transaction, the director now owns 50,390 shares of the company’s stock, valued at approximately $3,275,350. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,560 shares of company stock worth $15,290,160. Insiders own 16.10% of the company’s stock.

Griffon Stock Performance

Shares of GFF stock opened at $69.48 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The firm has a fifty day simple moving average of $66.29 and a two-hundred day simple moving average of $67.36. The firm has a market capitalization of $3.44 billion, a PE ratio of 18.33 and a beta of 1.29. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company had revenue of $647.80 million for the quarter, compared to the consensus estimate of $688.94 million. During the same quarter last year, the business posted $1.29 earnings per share. Griffon’s revenue was down 5.2% on a year-over-year basis. Analysts forecast that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Wednesday, August 28th. Griffon’s payout ratio is 15.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GFF shares. Robert W. Baird reduced their price objective on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 23rd. Finally, Stephens reaffirmed an “overweight” rating and set a $85.00 target price on shares of Griffon in a research note on Tuesday, September 10th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $81.50.

Griffon 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.