Griffon Corporation $GFF Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. decreased its position in Griffon Corporation (NYSE:GFF) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 131,763 shares of the conglomerate’s stock after selling 9,565 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Griffon were worth $9,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Voss Capital LP grew its holdings in Griffon by 13.7% in the 3rd quarter. Voss Capital LP now owns 1,535,000 shares of the conglomerate’s stock valued at $116,890,000 after buying an additional 185,000 shares during the period. AlphaQuest LLC grew its holdings in Griffon by 2,273.9% in the 3rd quarter. AlphaQuest LLC now owns 14,457 shares of the conglomerate’s stock valued at $1,101,000 after buying an additional 13,848 shares during the period. SG Americas Securities LLC grew its holdings in Griffon by 396.8% in the 4th quarter. SG Americas Securities LLC now owns 66,088 shares of the conglomerate’s stock valued at $4,867,000 after buying an additional 52,786 shares during the period. MHR Fund Management LLC purchased a new stake in Griffon in the 3rd quarter valued at about $9,519,000. Finally, Moran Wealth Management LLC grew its holdings in Griffon by 97.4% in the 4th quarter. Moran Wealth Management LLC now owns 52,258 shares of the conglomerate’s stock valued at $3,849,000 after buying an additional 25,790 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Griffon Stock Down 4.6%

Shares of NYSE:GFF opened at $81.92 on Friday. 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 Corporation has a 1 year low of $65.01 and a 1 year high of $97.58. The stock has a market capitalization of $3.76 billion, a P/E ratio of 630.23, a PEG ratio of 1.37 and a beta of 1.46. The stock has a 50-day simple moving average of $79.95 and a 200-day simple moving average of $79.43.

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

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Griffon’s payout ratio is presently 676.92%.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Stephens lifted 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. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Wall Street Zen cut Griffon from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Robert W. Baird set a $115.00 price target on Griffon in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Griffon currently has an average rating of “Moderate Buy” and an average target price of $115.00.

Griffon Company 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.