Griffon Co. Shares (NYSE:GFF) bought by Versor Investments LP

VaselineSeptember 4, 2024

0 4 minutes read

Versor Investments LP grew its holdings in Griffon Co. (NYSE:GFF – Free Report) by 114.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,457 shares of the conglomerate’s stock after purchasing an additional 5,057 shares during the quarter. Versor Investments LP’s holdings in Griffon were worth $604,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Scarborough Advisors LLC purchased a new stake in shares of Griffon in the 4th quarter valued at $35,000. Picton Mahoney Asset Management acquired a new stake in Griffon in the second quarter valued at approximately $55,000. GAMMA Investing LLC raised its stake in shares of Griffon by 65.1% in the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock valued at $62,000 after acquiring an additional 332 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Griffon in the first quarter valued at approximately $65,000. Finally, Sage Rock Capital Management LP purchased a new position in shares of Griffon in the fourth quarter valued at approximately $98,000. 73.22% of the shares are currently owned by hedge funds and other institutional investors.

Insiders place their bets

In other news, Director Kevin F. Sullivan sold 12,447 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total transaction of $809,055.00. Following the transaction, the director now directly owns 50,390 shares in the company, valued at $3,275,350. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. In other Griffon news, Director Kevin F. Sullivan sold 12,447 shares of Griffon stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total value of $809,055.00. Following the transaction, the director now directly owns 50,390 shares in the company, valued at $3,275,350. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CAO W. Christopher Durborow sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $66.88, for a total value of $869,440.00. Following the sale, the chief accounting officer now directly owns 48,368 shares of the company’s stock, valued at $3,234,851.84. The disclosure for this sale can be found here. Insiders sold a total of 125,447 shares of company stock worth $8,385,495 in the last quarter. Company insiders hold 16.10% of the company’s shares.

Analysts on Wall Street are forecasting an increase

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A number of research firms have issued reports on GFF. Robert W. Baird cut their price target on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com lowered Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $80.33, based on data from MarketBeat.com.

Read the latest stock report on GFF

Griffon stock down 5.0%

Shares of NYSE:GFF opened at $62.86 on Wednesday. The firm has a 50-day simple moving average of $65.97 and a 200-day simple moving average of $67.67. Griffon Co. has a 12-month low of $38.33 and a 12-month high of $77.99. The company has a current ratio of 2.50, a quick ratio of 1.39, and a debt-to-equity ratio of 6.71. The company has a market cap of $3.10 billion, a PE ratio of 16.59 and a beta of 1.29.

Griffon (NYSE:GFF – Get Free Report ) last announced its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). The company had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. Griffon revenue fell 5.2% year over year. In the same period last year, the company earned $1.29 per share. On average, equities analysts predict that Griffon Co. will post 4.83 EPS for the current fiscal year.

Griffon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 28. This represents a dividend of $0.60 on an annualized basis and a yield of 0.95%. Griffon’s dividend payout ratio is currently 15.83%.

About Griffon

(Free Report)

Griffon Corporation, through its subsidiaries, supplies consumer and professional, as well as residential and construction products in the United States, Europe, Canada, Australia and internationally. The company operates through two segments: Home & Construction Products and Consumer & Professional Products. The Home & Construction Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grills and room dividers for use in construction and commercial repair and remodeling applications of the house.