TheStreet upgraded shares of Griffon (NYSE:GFF) from a c+ rating to a b- rating in a report published on Wednesday, TheStreetRatingsTable reports.
Separately, Zacks Investment Research raised shares of Griffon from a hold rating to a strong-buy rating and set a $22.00 price objective on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $19.00.
Shares of NYSE:GFF opened at $17.78 on Wednesday. Griffon has a twelve month low of $9.65 and a twelve month high of $19.86. The company’s 50 day moving average is $17.10 and its 200 day moving average is $17.28. The company has a current ratio of 2.62, a quick ratio of 1.43 and a debt-to-equity ratio of 2.38. The company has a market cap of $841.01 million, a PE ratio of 23.54 and a beta of 2.21.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.072 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.62%. Griffon’s dividend payout ratio (DPR) is 38.16%.
Several large investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL lifted its position in shares of Griffon by 2.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 5,532,987 shares of the conglomerate’s stock valued at $102,250,000 after buying an additional 133,576 shares in the last quarter. BlackRock Inc. lifted its position in shares of Griffon by 3.3% during the 2nd quarter. BlackRock Inc. now owns 5,312,471 shares of the conglomerate’s stock valued at $89,888,000 after buying an additional 169,652 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Griffon by 1.6% during the 1st quarter. Gabelli Funds LLC now owns 2,157,000 shares of the conglomerate’s stock valued at $39,861,000 after buying an additional 33,592 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Griffon by 17.5% during the 2nd quarter. Wells Fargo & Company MN now owns 1,224,925 shares of the conglomerate’s stock valued at $20,726,000 after buying an additional 182,743 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Griffon by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 650,434 shares of the conglomerate’s stock valued at $11,006,000 after buying an additional 8,704 shares in the last quarter. Hedge funds and other institutional investors own 67.13% of the company’s stock.
Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.
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