54,715 Shares in Griffon Co. (NYSE:GFF) Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S acquired a new position in Griffon Co. (NYSE:GFF) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 54,715 shares of the conglomerate’s stock, valued at approximately $4,013,000. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.11% of Griffon at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in Griffon in the 4th quarter worth about $30,000. Scarborough Advisors LLC purchased a new stake in Griffon in the 4th quarter worth about $35,000. Parkside Financial Bank & Trust raised its stake in shares of Griffon by 671.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 557 shares in the last quarter. Sage Rock Capital Management LP purchased a new stake in shares of Griffon during the 4th quarter worth about $98,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Griffon by 11.2% during the 4th quarter. Russell Investments Group Ltd. now owns 3,336 shares of the conglomerate’s stock worth $203,000 after purchasing an additional 336 shares in the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Griffon

In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $67.07, for a total value of $6,707,000.00. Following the sale, the chief executive officer now owns 2,500,746 shares of the company’s stock, valued at approximately $167,725,034.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO W. Christopher Durborow sold 13,000 shares of Griffon stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $66.88, for a total transaction of $869,440.00. Following the sale, the chief accounting officer now owns 48,368 shares of the company’s stock, valued at approximately $3,234,851.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $67.07, for a total value of $6,707,000.00. Following the sale, the chief executive officer now directly owns 2,500,746 shares in the company, valued at approximately $167,725,034.22. The disclosure for this sale can be found here. Insiders own 16.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GFF. Robert W. Baird raised their price target on Griffon from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Griffon currently has an average rating of “Strong Buy” and an average price target of $81.00.

Griffon Stock Up 1.3 %

Shares of NYSE GFF traded up $0.78 during mid-day trading on Wednesday, reaching $62.31. 38,444 shares of the company traded hands, compared to its average volume of 424,273. The company has a debt-to-equity ratio of 7.80, a quick ratio of 1.56 and a current ratio of 2.78. The stock has a market cap of $3.09 billion, a PE ratio of 16.47 and a beta of 1.29. The company’s fifty day moving average is $66.54 and its two-hundred day moving average is $66.11. Griffon Co. has a fifty-two week low of $38.33 and a fifty-two week high of $77.99.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, May 8th. The conglomerate reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.51. The business had revenue of $672.88 million for the quarter, compared to analyst estimates of $625.22 million. Griffon had a return on equity of 90.02% and a net margin of 7.48%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS. On average, analysts expect that Griffon Co. will post 5 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, May 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Wednesday, May 29th. Griffon’s dividend payout ratio (DPR) is currently 15.83%.

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.