Voss Capital LP Increases Stock Position in Griffon Corporation $GFF

Voss Capital LP boosted its position in shares of Griffon Corporation (NYSE:GFF) by 13.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,535,000 shares of the conglomerate’s stock after purchasing an additional 185,000 shares during the period. Griffon makes up about 5.6% of Voss Capital LP’s holdings, making the stock its 5th biggest holding. Voss Capital LP’s holdings in Griffon were worth $116,890,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Danske Bank A S purchased a new position in Griffon in the third quarter worth about $924,000. Advisory Services Network LLC increased its position in shares of Griffon by 5.4% during the third quarter. Advisory Services Network LLC now owns 11,308 shares of the conglomerate’s stock valued at $861,000 after acquiring an additional 576 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Griffon by 1.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 36,947 shares of the conglomerate’s stock worth $2,791,000 after acquiring an additional 699 shares during the last quarter. Verition Fund Management LLC raised its holdings in Griffon by 20.0% in the 3rd quarter. Verition Fund Management LLC now owns 107,104 shares of the conglomerate’s stock worth $8,156,000 after acquiring an additional 17,864 shares during the last quarter. Finally, Mariner LLC lifted its position in Griffon by 178.3% in the 3rd quarter. Mariner LLC now owns 17,339 shares of the conglomerate’s stock valued at $1,320,000 after acquiring an additional 11,109 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors.

Griffon Price Performance

NYSE GFF opened at $72.99 on Wednesday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 79.34, a PEG ratio of 1.21 and a beta of 1.31. Griffon Corporation has a 1-year low of $63.92 and a 1-year high of $97.58. The company has a debt-to-equity ratio of 12.36, a current ratio of 2.55 and a quick ratio of 1.27. The business’s fifty day moving average price is $83.73 and its 200-day moving average price is $78.13.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Thursday, February 5th. The conglomerate reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. Griffon had a return on equity of 228.83% and a net margin of 1.76%.The company had revenue of $649.09 million during the quarter, compared to analysts’ expectations of $618.35 million. During the same quarter in the prior year, the business earned $1.39 earnings per share. Griffon’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Friday, February 27th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Griffon’s dividend payout ratio is presently 95.65%.

Analysts Set New Price Targets

Several analysts have commented on the company. CJS Securities upgraded Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Stephens upped their price target on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Robert W. Baird set a $108.00 price objective on Griffon in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Griffon from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Griffon currently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

Insider Activity at Griffon

In related news, Director James W. Sight sold 3,070 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $96.15, for a total transaction of $295,180.50. Following the completion of the sale, the director directly owned 13,872 shares in the company, valued at approximately $1,333,792.80. The trade was a 18.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Seth L. Kaplan sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $95.44, for a total transaction of $1,431,600.00. Following the sale, the senior vice president directly owned 119,747 shares of the company’s stock, valued at approximately $11,428,653.68. This represents a 11.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.20% of the stock is owned by corporate 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.