Shares of Griffon Co. (NYSE:GFF) have been given an average rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $19.25.
GFF has been the subject of several recent research reports. TheStreet raised Griffon from a “c+” rating to a “b-” rating in a report on Wednesday, August 21st. Zacks Investment Research raised Griffon from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a report on Wednesday, August 7th.
Several hedge funds have recently added to or reduced their stakes in GFF. Nuveen Asset Management LLC bought a new stake in shares of Griffon in the 2nd quarter valued at approximately $3,375,000. Wells Fargo & Company MN grew its stake in shares of Griffon by 17.5% in the 2nd quarter. Wells Fargo & Company MN now owns 1,224,925 shares of the conglomerate’s stock valued at $20,726,000 after purchasing an additional 182,743 shares during the period. Citadel Advisors LLC grew its stake in shares of Griffon by 1,753.4% in the 2nd quarter. Citadel Advisors LLC now owns 166,989 shares of the conglomerate’s stock valued at $2,825,000 after purchasing an additional 177,089 shares during the period. BlackRock Inc. grew its stake in shares of Griffon by 3.3% in the 2nd quarter. BlackRock Inc. now owns 5,312,471 shares of the conglomerate’s stock valued at $89,888,000 after purchasing an additional 169,652 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Griffon by 25.8% in the 2nd quarter. Invesco Ltd. now owns 393,363 shares of the conglomerate’s stock valued at $6,656,000 after purchasing an additional 80,773 shares during the period. Institutional investors own 67.63% of the company’s stock.
Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, August 1st. The conglomerate reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm had revenue of $574.97 million during the quarter, compared to analysts’ expectations of $544.20 million. Griffon had a return on equity of 9.39% and a net margin of 0.91%. As a group, analysts forecast that Griffon will post 1.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 22nd were issued a $0.072 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.29 annualized dividend and a yield of 1.40%. Griffon’s dividend payout ratio (DPR) is 38.16%.
Griffon Company Profile
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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