Counterpoint Mutual Funds LLC Reduces Position in Griffon Co. (NYSE:GFF)

Counterpoint Mutual Funds LLC decreased its position in Griffon Co. (NYSE:GFF) by 38.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,182 shares of the conglomerate’s stock after selling 2,609 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Griffon were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GFF. Raymond James Financial Inc. bought a new position in Griffon in the fourth quarter valued at about $43,325,000. Point72 Asset Management L.P. lifted its holdings in Griffon by 74.8% in the third quarter. Point72 Asset Management L.P. now owns 473,490 shares of the conglomerate’s stock valued at $33,144,000 after acquiring an additional 202,685 shares during the period. abrdn plc bought a new position in Griffon in the fourth quarter valued at about $12,842,000. Wilmington Savings Fund Society FSB bought a new position in Griffon in the third quarter valued at about $9,800,000. Finally, Jane Street Group LLC lifted its holdings in Griffon by 21.4% in the third quarter. Jane Street Group LLC now owns 348,907 shares of the conglomerate’s stock valued at $24,423,000 after acquiring an additional 61,399 shares during the period. Institutional investors own 73.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GFF. Loop Capital raised Griffon to a “strong-buy” rating in a report on Friday, February 14th. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. Raymond James reaffirmed a “strong-buy” rating and issued a $95.00 price objective (up previously from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Stephens raised their price objective on Griffon from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Robert W. Baird raised their price objective on Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Strong Buy” and an average target price of $98.75.

Griffon Stock Down 0.9 %

Shares of GFF opened at $70.03 on Wednesday. The business’s 50 day moving average is $74.28 and its 200 day moving average is $72.31. The company has a market capitalization of $3.33 billion, a PE ratio of 14.29 and a beta of 1.40. Griffon Co. has a 12-month low of $55.01 and a 12-month high of $86.73. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect 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. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.03%. The ex-dividend date was Tuesday, February 25th. Griffon’s dividend payout ratio is presently 14.69%.

Insider Buying and Selling at Griffon

In other news, Director Cheryl L. Turnbull sold 3,000 shares of Griffon stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.80, for a total value of $242,400.00. Following the completion of the transaction, the director now owns 30,730 shares in the company, valued at approximately $2,482,984. The trade was a 8.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.20% of the stock is currently owned by company insiders.

About Griffon

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.