Colonial River Investments LLC Acquires Shares of 5,382 Griffon Co. (NYSE:GFF)

Colonial River Investments LLC bought a new position in Griffon Co. (NYSE:GFF) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,382 shares of the conglomerate’s stock, valued at approximately $377,000.

A number of other hedge funds have also made changes to their positions in the company. Quarry LP boosted its position in Griffon by 98.7% in the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after buying an additional 386 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Griffon in the second quarter valued at approximately $55,000. Plato Investment Management Ltd acquired a new position in shares of Griffon in the 1st quarter worth approximately $65,000. DekaBank Deutsche Girozentrale bought a new stake in Griffon during the 2nd quarter worth approximately $70,000. Finally, GAMMA Investing LLC increased its holdings in Griffon by 56.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock valued at $79,000 after purchasing an additional 411 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Insider Buying and Selling at Griffon

In other news, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the transaction, the chief executive officer now owns 2,260,746 shares of the company’s stock, valued at $140,754,045.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the transaction, the chief executive officer now owns 2,260,746 shares of the company’s stock, valued at approximately $140,754,045.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert F. Mehmel sold 912 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $70.06, for a total value of $63,894.72. Following the transaction, the chief operating officer now owns 746,611 shares in the company, valued at approximately $52,307,566.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 260,464 shares of company stock valued at $17,244,450. 16.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GFF shares. Stephens reissued an “overweight” rating and issued a $85.00 price objective on shares of Griffon in a research note on Tuesday, September 10th. Robert W. Baird upped their price target on shares of Griffon from $84.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $83.50.

Griffon Price Performance

Griffon stock opened at $69.43 on Friday. The business’s 50-day simple moving average is $66.50 and its 200 day simple moving average is $66.60. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 18.61 and a beta of 1.31. Griffon Co. has a 12-month low of $42.13 and a 12-month high of $77.99.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a return on equity of 96.05% and a net margin of 7.27%. The business had revenue of $647.80 million for the quarter, compared to analyst estimates of $688.94 million. During the same quarter in the prior year, the firm earned $1.29 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Griffon Co. will post 4.87 earnings per share for the current year.

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.