Thrivent Financial for Lutherans Grows Stock Holdings in Griffon Corporation $GFF

Thrivent Financial for Lutherans grew its holdings in Griffon Corporation (NYSE:GFF) by 45.5% during the fourth quarter, HoldingsChannel reports. The firm owned 113,879 shares of the conglomerate’s stock after acquiring an additional 35,593 shares during the period. Thrivent Financial for Lutherans’ holdings in Griffon were worth $8,388,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its stake in Griffon by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock worth $658,000 after purchasing an additional 136 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Griffon in the 4th quarter worth approximately $368,000. Versor Investments LP purchased a new position in Griffon in the 4th quarter worth approximately $321,000. NewEdge Wealth LLC lifted its stake in Griffon by 15.5% in the 4th quarter. NewEdge Wealth LLC now owns 11,895 shares of the conglomerate’s stock worth $876,000 after purchasing an additional 1,593 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Griffon by 32.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,827 shares of the conglomerate’s stock worth $282,000 after purchasing an additional 932 shares in the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Stock Down 3.8%

GFF stock opened at $79.71 on Wednesday. The firm has a market cap of $3.66 billion, a PE ratio of 613.18, a PEG ratio of 1.38 and a beta of 1.46. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. The firm’s 50 day moving average price is $80.05 and its 200-day moving average price is $79.53. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58.

Griffon (NYSE:GFF) last released its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $1.23 EPS. The business’s revenue for the quarter was down 31.0% compared to the same quarter last year. On average, equities research analysts anticipate that Griffon Corporation will post 5.17 EPS for the current year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 29th. Griffon’s dividend payout ratio (DPR) is 676.92%.

Wall Street Analysts Forecast Growth

GFF has been the topic of several analyst reports. Robert W. Baird set a $115.00 price target on shares of Griffon in a research report on Friday, May 8th. Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Stephens lifted their price target on shares of Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Finally, Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.00.

Griffon Company Profile

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.