Griffon (NYSE:GFF) Upgraded to Strong-Buy by upgraded shares of Griffon (NYSE:GFFFree Report) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

Several other research firms have also recently weighed in on GFF. TheStreet upgraded Griffon from a c+ rating to a b rating in a report on Friday, November 24th. Deutsche Bank Aktiengesellschaft raised their price target on Griffon from $72.00 to $82.00 and gave the company a buy rating in a report on Monday, January 22nd. Finally, Raymond James raised their price target on Griffon from $60.00 to $75.00 and gave the company a strong-buy rating in a report on Monday, February 5th.

Check Out Our Latest Report on GFF

Griffon Stock Up 1.6 %

Shares of GFF opened at $68.61 on Thursday. The business’s 50 day moving average is $58.29 and its 200 day moving average is $47.42. The company has a market capitalization of $3.50 billion, a PE ratio of 51.20 and a beta of 1.39. Griffon has a 12-month low of $25.97 and a 12-month high of $69.41. The company has a current ratio of 2.46, a quick ratio of 1.32 and a debt-to-equity ratio of 5.02.

Griffon (NYSE:GFFGet Free Report) last issued its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.29. The company had revenue of $643.20 million for the quarter, compared to the consensus estimate of $595.87 million. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. Research analysts expect that Griffon will post 4.72 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Wednesday, February 28th. Griffon’s dividend payout ratio (DPR) is 44.78%.

Griffon declared that its Board of Directors has approved a share buyback program on Wednesday, November 15th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the conglomerate to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Griffon

In other news, Director James W. Sight sold 2,000 shares of Griffon stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $67.38, for a total value of $134,760.00. Following the completion of the transaction, the director now owns 18,843 shares in the company, valued at approximately $1,269,641.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Griffon

A number of institutional investors and hedge funds have recently modified their holdings of GFF. GAMMA Investing LLC purchased a new position in Griffon during the 4th quarter valued at $30,000. Quadrant Capital Group LLC boosted its holdings in Griffon by 530.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 769 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 647 shares during the period. Quarry LP boosted its holdings in Griffon by 931.0% during the 1st quarter. Quarry LP now owns 1,165 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 1,052 shares during the period. Covestor Ltd boosted its holdings in Griffon by 128.6% during the 2nd quarter. Covestor Ltd now owns 944 shares of the conglomerate’s stock valued at $38,000 after acquiring an additional 531 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Griffon by 671.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 557 shares during the period. Hedge funds and other institutional investors own 73.88% of the company’s stock.

About Griffon

(Get Free Report)

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.

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