Griffon Corporation $GFF Shares Sold by Rock Creek Group LLC

Rock Creek Group LLC decreased its stake in shares of Griffon Corporation (NYSE:GFF) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,000 shares of the conglomerate’s stock after selling 5,000 shares during the quarter. Rock Creek Group LLC’s holdings in Griffon were worth $1,861,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Global Investments lifted its stake in Griffon by 1.0% in the 1st quarter. Summit Global Investments now owns 16,432 shares of the conglomerate’s stock worth $1,194,000 after purchasing an additional 155 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Griffon by 2.2% during the 1st quarter. NewEdge Advisors LLC now owns 7,576 shares of the conglomerate’s stock valued at $551,000 after purchasing an additional 164 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Griffon by 0.7% during the third quarter. Russell Investments Group Ltd. now owns 40,832 shares of the conglomerate’s stock valued at $3,799,000 after purchasing an additional 297 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of Griffon by 6.0% during the second quarter. Engineers Gate Manager LP now owns 5,520 shares of the conglomerate’s stock valued at $538,000 after purchasing an additional 313 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Griffon during the second quarter valued at about $31,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Price Performance

Griffon stock traded up $0.34 during mid-day trading on Friday, reaching $105.18. 276,940 shares of the company’s stock traded hands, compared to its average volume of 315,156. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $109.00. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. The stock has a 50 day moving average of $97.12 and a two-hundred day moving average of $90.32. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 26.83 and a beta of 1.50.

Insider Activity

In other news, COO Robert Mehmel sold 7,743 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $107.62, for a total transaction of $833,301.66. Following the sale, the chief operating officer directly owned 715,289 shares in the company, valued at approximately $76,979,402.18. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on GFF shares. Weiss Ratings upgraded Griffon from a “hold (c-)” rating to a “buy (b)” rating in a research report on Tuesday, September 22nd. Zacks Research lowered Griffon from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Stephens raised their price target on Griffon from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Robert W. Baird set a $125.00 price target on Griffon in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $122.50.

About Griffon

Griffon Corporation is a diversified management and holding company whose businesses make products for homes, buildings, gardens and outdoor spaces. Its operations are organized into Home and Building Products and Consumer and Professional Products. The Home and Building Products segment includes Clopay, which makes residential and commercial garage doors, and CornellCookson, which produces rolling steel doors and security grilles. The Consumer and Professional Products segment sells lawn and garden tools, landscaping products and home organization products through brands including AMES, True Temper and ClosetMaid.