Griffon Corporation $GFF Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its stake in Griffon Corporation (NYSE:GFF) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,011,360 shares of the conglomerate’s stock after selling 37,006 shares during the quarter. Dimensional Fund Advisors LP owned 2.17% of Griffon worth $73,501,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Voss Capital LP grew its position in Griffon by 14.7% in the 4th quarter. Voss Capital LP now owns 1,760,000 shares of the conglomerate’s stock valued at $129,624,000 after buying an additional 225,000 shares during the last quarter. State Street Corp raised its position in Griffon by 0.7% during the 4th quarter. State Street Corp now owns 1,535,473 shares of the conglomerate’s stock worth $113,088,000 after buying an additional 11,169 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Griffon by 41.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,002,513 shares of the conglomerate’s stock worth $73,835,000 after buying an additional 293,278 shares during the last quarter. LSV Asset Management raised its position in Griffon by 10.0% during the 4th quarter. LSV Asset Management now owns 867,195 shares of the conglomerate’s stock worth $63,869,000 after buying an additional 79,000 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in shares of Griffon by 7.7% in the 2nd quarter. Raymond James Financial Inc. now owns 719,046 shares of the conglomerate’s stock worth $52,037,000 after acquiring an additional 51,354 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Griffon Price Performance

Griffon stock opened at $86.45 on Friday. The company has a market cap of $3.97 billion, a P/E ratio of 665.07 and a beta of 1.41. Griffon Corporation has a one year low of $65.01 and a one year high of $98.36. The business has a fifty day moving average of $90.67 and a two-hundred day moving average of $85.52. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $421.86 million for the quarter, compared to analysts’ expectations of $414.63 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The business’s revenue for the quarter was down 31.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. As a group, analysts predict that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 29th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Griffon’s payout ratio is currently 676.92%.

Wall Street Analysts Forecast Growth

GFF has been the topic of several analyst reports. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 target price on Griffon in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Insider Activity

In other news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $94.92, for a total transaction of $9,492,000.00. Following the completion of the sale, the chief executive officer directly owned 1,784,297 shares in the company, valued at approximately $169,365,471.24. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert F. Mehmel sold 7,873 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $96.02, for a total value of $755,965.46. Following the sale, the chief operating officer directly owned 790,352 shares in the company, valued at $75,889,599.04. This trade represents a 0.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,389 shares of company stock worth $12,309,525 over the last 90 days. 10.20% of the stock is currently owned by company insiders.

Griffon 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.