Congruence Capital LLC Acquires Shares of 162,729 Griffon Corporation $GFF

Congruence Capital LLC bought a new position in shares of Griffon Corporation (NYSE:GFF) in the 4th quarter, Holdings Channel reports. The fund bought 162,729 shares of the conglomerate’s stock, valued at approximately $11,985,000. Griffon makes up 4.4% of Congruence Capital LLC’s holdings, making the stock its 10th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Voss Capital LP increased its position 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 acquiring an additional 185,000 shares during the period. SG Americas Securities LLC lifted its position in Griffon by 396.8% during the 4th quarter. SG Americas Securities LLC now owns 66,088 shares of the conglomerate’s stock worth $4,867,000 after acquiring an additional 52,786 shares during the period. MHR Fund Management LLC purchased a new position in shares of Griffon in the 3rd quarter valued at approximately $9,519,000. Moran Wealth Management LLC increased its holdings in shares of Griffon by 97.4% in the fourth quarter. Moran Wealth Management LLC now owns 52,258 shares of the conglomerate’s stock valued at $3,849,000 after purchasing an additional 25,790 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in shares of Griffon by 28.0% in the third quarter. Public Sector Pension Investment Board now owns 170,244 shares of the conglomerate’s stock valued at $12,964,000 after purchasing an additional 37,205 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

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

Griffon Stock Down 1.4%

GFF opened at $94.01 on Friday. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. The business has a 50 day simple moving average of $85.65 and a 200-day simple moving average of $81.51. The stock has a market capitalization of $4.31 billion, a P/E ratio of 723.20 and a beta of 1.42. Griffon Corporation has a 12 month low of $65.01 and a 12 month high of $97.58.

Griffon (NYSE:GFF) last announced its quarterly earnings data 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 firm had revenue of $421.86 million for the quarter, compared to analyst estimates of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.Griffon’s quarterly revenue was down 31.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 earnings per share. On average, equities analysts anticipate that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.9%. Griffon’s dividend payout ratio is 676.92%.

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.