American International Group Inc. grew its position in shares of Griffon Co. (NYSE:GFF) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,589 shares of the conglomerate’s stock after acquiring an additional 1,109 shares during the period. American International Group Inc. owned about 0.05% of Griffon worth $831,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of GFF. First Trust Advisors LP raised its stake in shares of Griffon by 3.2% during the first quarter. First Trust Advisors LP now owns 63,082 shares of the conglomerate’s stock valued at $1,166,000 after acquiring an additional 1,934 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Griffon by 21.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,366 shares of the conglomerate’s stock worth $619,000 after buying an additional 5,451 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Griffon by 46.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,980 shares of the conglomerate’s stock worth $122,000 after buying an additional 1,909 shares in the last quarter. Victory Capital Management Inc. raised its stake in Griffon by 25.7% in the fourth quarter. Victory Capital Management Inc. now owns 12,845 shares of the conglomerate’s stock worth $262,000 after buying an additional 2,630 shares in the last quarter. Finally, Bailard Inc. bought a new position in Griffon in the fourth quarter worth about $267,000. 72.31% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE GFF opened at $25.17 on Friday. Griffon Co. has a fifty-two week low of $16.35 and a fifty-two week high of $29.19. The firm’s 50 day simple moving average is $26.90. The company has a market capitalization of $1.43 billion, a P/E ratio of 14.14 and a beta of 1.97. The company has a quick ratio of 1.54, a current ratio of 2.60 and a debt-to-equity ratio of 1.37.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, May 20th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Wednesday, May 19th. Griffon’s dividend payout ratio is 19.75%.
A number of research firms recently issued reports on GFF. Raymond James increased their price target on shares of Griffon from $27.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, April 30th. Zacks Investment Research raised shares of Griffon from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Tuesday, May 4th. Five investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $30.60.
Griffon Corporation, through its subsidiaries, engages in the consumer and professional products, home and building products, and defense electronics businesses primarily in the United States, Europe, Canada, Australia, the United Kingdom, Mexico, and China. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools.
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