Livforsakringsbolaget Skandia Omsesidigt Purchases 9,000 Shares of Griffon Co. (NYSE:GFF)

Livforsakringsbolaget Skandia Omsesidigt raised its position in Griffon Co. (NYSE:GFF) by 22.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,109 shares of the conglomerate’s stock after buying an additional 9,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned about 0.10% of Griffon worth $3,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GFF. Scarborough Advisors LLC purchased a new stake in Griffon during the fourth quarter valued at about $35,000. Quarry LP boosted its holdings in Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after buying an additional 386 shares during the period. Picton Mahoney Asset Management purchased a new position in Griffon in the 2nd quarter valued at approximately $55,000. GAMMA Investing LLC raised its holdings in Griffon by 65.1% during the 1st 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. Finally, Plato Investment Management Ltd purchased a new stake in shares of Griffon during the first quarter worth $65,000. Institutional investors own 73.22% of the company’s stock.

Insider Buying and Selling at Griffon

In other Griffon news, Director Kevin F. Sullivan sold 12,447 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total value of $809,055.00. Following the completion of the sale, the director now directly owns 50,390 shares of the company’s stock, valued at $3,275,350. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Kevin F. Sullivan sold 12,447 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert F. Mehmel sold 1,205 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $70.11, for a total value of $84,482.55. Following the completion of the sale, the chief operating officer now owns 754,046 shares of the company’s stock, valued at $52,866,165.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 253,020 shares of company stock worth $16,722,924 over the last ninety days. Insiders own 16.10% of the company’s stock.

Analysts Set New Price Targets

GFF has been the topic of a number of analyst reports. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Stephens reiterated an “overweight” rating and set a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th. Finally, Robert W. Baird reduced their price objective on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $81.50.

Griffon Stock Up 2.4 %

GFF stock opened at $68.17 on Friday. Griffon Co. has a 1-year low of $38.33 and a 1-year high of $77.99. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 18.28 and a beta of 1.29. 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’s 50 day moving average is $65.66 and its 200 day moving average is $67.20.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). The company had revenue of $647.80 million for 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%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. Sell-side analysts predict that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.88%. The ex-dividend date was Wednesday, August 28th. Griffon’s dividend payout ratio is currently 16.09%.

About Griffon

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.