Xponance Inc. Takes Position in Griffon Co. (NYSE:GFF)

Xponance Inc. acquired a new position in Griffon Co. (NYSE:GFF) during the 4th quarter, Holdings Channel reports. The fund acquired 3,944 shares of the conglomerate’s stock, valued at approximately $281,000.

A number of other large investors have also recently added to or reduced their stakes in GFF. Raymond James Trust N.A. lifted its holdings in shares of Griffon by 5.1% in the third quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate’s stock valued at $244,000 after purchasing an additional 168 shares in the last quarter. Optimist Retirement Group LLC grew its holdings in Griffon by 5.3% during the 4th quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate’s stock valued at $256,000 after buying an additional 181 shares during the last quarter. Axxcess Wealth Management LLC increased its position in Griffon by 5.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 5,701 shares of the conglomerate’s stock worth $406,000 after buying an additional 319 shares in the last quarter. Colonial River Investments LLC raised its holdings in shares of Griffon by 6.5% in the fourth quarter. Colonial River Investments LLC now owns 5,733 shares of the conglomerate’s stock worth $409,000 after acquiring an additional 351 shares during the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in shares of Griffon by 1.1% in the third quarter. SkyView Investment Advisors LLC now owns 34,780 shares of the conglomerate’s stock valued at $2,435,000 after acquiring an additional 384 shares in the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Griffon Price Performance

GFF opened at $71.99 on Friday. Griffon Co. has a 1 year low of $55.01 and a 1 year high of $86.73. The company’s 50 day simple moving average is $74.19 and its 200 day simple moving average is $72.63. The stock has a market capitalization of $3.46 billion, a PE ratio of 14.69 and a beta of 1.40. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. Griffon had a net margin of 9.13% and a return on equity of 120.61%. As a group, sell-side analysts expect that Griffon Co. will post 5.55 EPS for the current year.

Griffon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.72 annualized dividend and a yield of 1.00%. Griffon’s dividend payout ratio is presently 14.69%.

Insider Transactions at Griffon

In related news, Director Cheryl L. Turnbull sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the completion of the sale, the director now owns 30,730 shares of the company’s stock, valued at approximately $2,482,984. This represents a 8.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Stephens upped their price objective on shares of Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Loop Capital raised shares of Griffon to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $95.00 price target (up from $92.00) on shares of Griffon in a report on Thursday, February 6th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Griffon has an average rating of “Buy” and an average price target of $98.75.

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.