23,118 Shares in Griffon Co. (NYSE:GFF) Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new stake in shares of Griffon Co. (NYSE:GFF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 23,118 shares of the conglomerate’s stock, valued at approximately $1,648,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. New Age Alpha Advisors LLC purchased a new position in shares of Griffon during the fourth quarter valued at approximately $30,000. Grove Bank & Trust bought a new stake in Griffon in the fourth quarter valued at $33,000. R Squared Ltd purchased a new position in Griffon during the 4th quarter valued at $37,000. Headlands Technologies LLC bought a new position in Griffon in the 4th quarter worth $64,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Griffon by 343.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate’s stock worth $78,000 after purchasing an additional 845 shares during the period. Institutional investors own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GFF has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Griffon in a research note on Tuesday. They issued a “buy” rating and a $91.00 price target for the company. Loop Capital upgraded Griffon to a “strong-buy” rating in a research note on Friday, February 14th. Raymond James restated a “strong-buy” rating and set a $95.00 price target (up from $92.00) on shares of Griffon in a research report on Thursday, February 6th. Stephens raised their price objective on Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, StockNews.com cut shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $97.20.

Griffon Stock Up 2.1 %

Shares of NYSE:GFF opened at $73.02 on Wednesday. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44. The stock has a fifty day simple moving average of $73.85 and a two-hundred day simple moving average of $72.92. Griffon Co. has a 12-month low of $55.01 and a 12-month high of $86.73. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.90 and a beta of 1.40.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. On average, research analysts anticipate that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Tuesday, February 25th. Griffon’s payout ratio is 14.69%.

Insider Activity at Griffon

In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.80, for a total transaction of $242,400.00. Following the sale, the director now directly owns 30,730 shares in the company, valued at approximately $2,482,984. This trade represents a 8.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.20% of the stock is owned by insiders.

Griffon Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.