Griffon Corporation $GFF Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its holdings in Griffon Corporation (NYSE:GFF) by 200.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,963 shares of the conglomerate’s stock after buying an additional 5,984 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Griffon were worth $649,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. IFP Advisors Inc grew its stake in shares of Griffon by 8,720.0% during the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 436 shares during the last quarter. Signaturefd LLC grew its stake in shares of Griffon by 72.9% during the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 234 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Griffon by 11,460.0% during the first quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 573 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Griffon during the first quarter worth about $49,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Griffon during the second quarter worth about $52,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Griffon Price Performance

NYSE:GFF opened at $76.36 on Friday. The company has a debt-to-equity ratio of 22.58, a current ratio of 2.70 and a quick ratio of 1.38. The company has a 50 day moving average price of $76.32 and a 200-day moving average price of $73.79. Griffon Corporation has a 1-year low of $62.26 and a 1-year high of $86.73. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 56.99, a price-to-earnings-growth ratio of 1.04 and a beta of 1.11.

Griffon (NYSE:GFF) last released its quarterly earnings results on Wednesday, August 6th. The conglomerate reported $1.50 EPS for the quarter, meeting the consensus estimate of $1.50. Griffon had a net margin of 2.78% and a return on equity of 144.21%. The company had revenue of $613.63 million for the quarter, compared to analyst estimates of $649.95 million. During the same quarter last year, the business earned $1.24 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Equities research analysts forecast that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Griffon’s dividend payout ratio is presently 53.73%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GFF. Zacks Research lowered Griffon from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a research report on Tuesday, October 14th. Finally, Robert W. Baird upped their target price on Griffon from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.20.

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.