LSV Asset Management Has $63.87 Million Stock Holdings in Griffon Corporation $GFF

LSV Asset Management increased its stake in shares of Griffon Corporation (NYSE:GFF) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 867,195 shares of the conglomerate’s stock after purchasing an additional 79,000 shares during the quarter. LSV Asset Management’s holdings in Griffon were worth $63,869,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its position in Griffon by 29.2% during the 4th quarter. Handelsbanken Fonder AB now owns 11,500 shares of the conglomerate’s stock worth $847,000 after purchasing an additional 2,600 shares in the last quarter. ProShare Advisors LLC increased its position in Griffon by 4.7% during the 4th quarter. ProShare Advisors LLC now owns 87,600 shares of the conglomerate’s stock worth $6,452,000 after purchasing an additional 3,915 shares in the last quarter. Frisch Financial Group Inc. acquired a new position in Griffon during the 4th quarter worth approximately $994,000. TD Private Client Wealth LLC increased its position in Griffon by 16.4% during the 4th quarter. TD Private Client Wealth LLC now owns 1,509 shares of the conglomerate’s stock worth $111,000 after purchasing an additional 213 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new position in Griffon during the 4th quarter worth approximately $294,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Trading Up 0.4%

GFF opened at $84.95 on Friday. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $97.58. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 653.53, a PEG ratio of 1.42 and a beta of 1.46. The company’s 50 day moving average price is $80.58 and its two-hundred day moving average price is $79.71.

Griffon (NYSE:GFF) last posted its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The firm had revenue of $421.86 million for the quarter, compared to analyst estimates of $414.63 million. During the same period in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was down 31.0% compared to the same quarter last year. As a group, research analysts predict that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Griffon’s payout ratio is presently 676.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Stephens upped their price objective on shares of Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Robert W. Baird set a $115.00 price objective on shares of Griffon in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Griffon has an average rating of “Moderate Buy” and an average target price of $115.00.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.