Voss Capital LP Raises Stock Holdings in Griffon Corporation $GFF

Voss Capital LP boosted its stake in shares of Griffon Corporation (NYSE:GFF) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,760,000 shares of the conglomerate’s stock after acquiring an additional 225,000 shares during the quarter. Griffon makes up approximately 6.2% of Voss Capital LP’s holdings, making the stock its 4th biggest holding. Voss Capital LP owned about 3.78% of Griffon worth $129,624,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GFF. Hantz Financial Services Inc. grew its holdings in Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 211 shares during the last quarter. Huntington National Bank boosted its stake in shares of Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Griffon in the 4th quarter valued at approximately $34,000. Osterweis Capital Management Inc. acquired a new stake in shares of Griffon in the 2nd quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Griffon by 33.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 142 shares during the period. Institutional investors own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

GFF has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Robert W. Baird set a $115.00 price objective on shares of Griffon in a report on Friday, May 8th. Finally, Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Griffon currently has an average rating of “Moderate Buy” and an average price target of $115.00.

Griffon Stock Down 1.4%

GFF stock opened at $94.01 on Friday. The company has a market cap of $4.31 billion, a PE ratio of 723.20 and a beta of 1.42. The business has a 50-day simple moving average of $85.65 and a 200 day simple moving average of $81.51. Griffon Corporation has a 52 week low of $65.01 and a 52 week high of $97.58. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.Griffon’s revenue for the quarter was down 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Sell-side analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

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 paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 annualized dividend and a yield of 0.9%. Griffon’s payout ratio is presently 676.92%.

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.