Los Angeles Capital Management LLC Sells 1,626 Shares of Griffon Co. (NYSE:GFF)

Los Angeles Capital Management LLC lowered its position in shares of Griffon Co. (NYSE:GFF) by 12.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,206 shares of the conglomerate’s stock after selling 1,626 shares during the period. Los Angeles Capital Management LLC’s holdings in Griffon were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Griffon during the fourth quarter valued at approximately $30,000. Scarborough Advisors LLC bought a new stake in Griffon in the 4th quarter worth approximately $35,000. Parkside Financial Bank & Trust grew its position in Griffon by 671.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 557 shares during the period. Sage Rock Capital Management LP bought a new stake in Griffon in the 4th quarter worth approximately $98,000. Finally, Russell Investments Group Ltd. grew its position in Griffon by 11.2% in the 4th quarter. Russell Investments Group Ltd. now owns 3,336 shares of the conglomerate’s stock worth $203,000 after purchasing an additional 336 shares during the period. Institutional investors own 73.22% of the company’s stock.

Griffon Trading Up 2.0 %

Shares of Griffon stock opened at $66.18 on Tuesday. The company’s fifty day simple moving average is $67.30 and its 200-day simple moving average is $65.51. The stock has a market capitalization of $3.28 billion, a PE ratio of 17.46 and a beta of 1.33. Griffon Co. has a 1-year low of $37.47 and a 1-year high of $77.99. The company has a debt-to-equity ratio of 7.80, a current ratio of 2.78 and a quick ratio of 1.56.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.51. The business had revenue of $672.88 million for the quarter, compared to analysts’ expectations of $625.22 million. Griffon had a net margin of 7.48% and a return on equity of 90.02%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. As a group, equities analysts anticipate that Griffon Co. will post 5 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, May 29th. Griffon’s dividend payout ratio is presently 15.83%.

Analyst Ratings Changes

GFF has been the subject of a number of research analyst reports. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. Robert W. Baird lifted their target price on shares of Griffon from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Two analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average target price of $81.00.

Insider Activity at Griffon

In related news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the transaction, the chief executive officer now owns 2,500,746 shares in the company, valued at approximately $167,725,034.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO W. Christopher Durborow sold 13,000 shares of Griffon stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $66.88, for a total transaction of $869,440.00. Following the transaction, the chief accounting officer now owns 48,368 shares in the company, valued at approximately $3,234,851.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the transaction, the chief executive officer now owns 2,500,746 shares in the company, valued at approximately $167,725,034.22. The disclosure for this sale can be found here. 16.10% of the stock is owned by corporate insiders.

Griffon Company Profile

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.