Measured Wealth Private Client Group LLC Acquires 773 Shares of Griffon Co. (NYSE:GFF)

Measured Wealth Private Client Group LLC increased its position in Griffon Co. (NYSE:GFF) by 24.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,948 shares of the conglomerate’s stock after purchasing an additional 773 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Griffon were worth $281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. lifted its stake in Griffon by 5.1% in the third quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate’s stock valued at $244,000 after purchasing an additional 168 shares during the last quarter. Optimist Retirement Group LLC lifted its holdings in shares of Griffon by 5.3% during the 4th quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate’s stock worth $256,000 after acquiring an additional 181 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Griffon by 5.0% in the 3rd quarter. Ritholtz Wealth Management now owns 3,913 shares of the conglomerate’s stock worth $274,000 after purchasing an additional 187 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Griffon by 1.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 34,780 shares of the conglomerate’s stock valued at $2,435,000 after purchasing an additional 384 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Griffon by 56.9% in the third quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock worth $79,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Analysts Set New Price Targets

GFF has been the topic of a number of recent analyst reports. StockNews.com lowered Griffon from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Robert W. Baird raised their price target on Griffon from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Raymond James restated a “strong-buy” rating and issued a $95.00 price objective (up from $92.00) on shares of Griffon in a report on Thursday. Finally, Stephens increased their price objective on shares of Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday.

Griffon Trading Up 0.1 %

Shares of NYSE:GFF opened at $80.96 on Friday. The business’s 50-day moving average is $76.03 and its 200 day moving average is $70.95. The firm has a market capitalization of $3.89 billion, a P/E ratio of 19.14 and a beta of 1.43. The company has a debt-to-equity ratio of 6.74, a current ratio of 2.66 and a quick ratio of 1.44. Griffon Co. has a 1 year low of $55.01 and a 1 year high of $86.73.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. Griffon had a return on equity of 108.70% and a net margin of 8.00%. On average, research analysts predict that Griffon Co. will post 5.51 earnings per share for the current fiscal year.

Griffon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, February 25th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.89%. Griffon’s dividend payout ratio is currently 17.02%.

Griffon announced that its Board of Directors has initiated a stock repurchase program on Wednesday, November 13th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Griffon

In related news, Director Victor Eugene Renuart sold 4,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $84.46, for a total value of $380,070.00. Following the completion of the transaction, the director now directly owns 19,312 shares in the company, valued at approximately $1,631,091.52. This represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO W. Christopher Durborow sold 5,170 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $80.38, for a total value of $415,564.60. Following the sale, the chief accounting officer now directly owns 44,306 shares of the company’s stock, valued at approximately $3,561,316.28. This trade represents a 10.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 365,170 shares of company stock worth $27,178,746 over the last quarter. 10.20% of the stock is currently owned by company insiders.

Griffon Company 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.