Charles Schwab Investment Management Inc. Increases Stock Holdings in Griffon Co. (NYSE:GFF)

Charles Schwab Investment Management Inc. lifted its stake in shares of Griffon Co. (NYSE:GFF) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 538,200 shares of the conglomerate’s stock after buying an additional 18,274 shares during the period. Charles Schwab Investment Management Inc. owned about 1.12% of Griffon worth $38,358,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GFF. Grove Bank & Trust purchased a new stake in shares of Griffon in the fourth quarter valued at about $33,000. R Squared Ltd purchased a new stake in Griffon in the 4th quarter valued at about $37,000. Smartleaf Asset Management LLC lifted its position in shares of Griffon by 343.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate’s stock worth $78,000 after buying an additional 845 shares in the last quarter. Quarry LP boosted its stake in shares of Griffon by 86.9% in the 3rd quarter. Quarry LP now owns 1,452 shares of the conglomerate’s stock worth $102,000 after buying an additional 675 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Griffon by 43.1% in the fourth quarter. KBC Group NV now owns 1,729 shares of the conglomerate’s stock valued at $123,000 after acquiring an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Griffon Stock Performance

Griffon stock opened at $69.52 on Friday. The firm’s 50 day simple moving average is $74.32 and its 200 day simple moving average is $72.20. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44. The firm has a market capitalization of $3.30 billion, a PE ratio of 14.19 and a beta of 1.40. Griffon Co. has a 1-year low of $55.01 and a 1-year high of $86.73.

Griffon (NYSE:GFF) last released its quarterly earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.11. Griffon had a net margin of 9.13% and a return on equity of 120.61%. As a group, analysts expect that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, February 25th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, February 25th. Griffon’s dividend payout ratio (DPR) is 14.69%.

Analysts Set New Price Targets

Several research analysts have weighed in on GFF shares. Loop Capital raised Griffon to a “strong-buy” rating in a research report on Friday, February 14th. Raymond James reiterated a “strong-buy” rating and set a $95.00 target price (up from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Robert W. Baird lifted their price objective on shares of Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Stephens lifted their price objective on shares of Griffon from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Strong Buy” and a consensus price target of $98.75.

Insider Buying and Selling

In related news, Director Cheryl L. Turnbull sold 3,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.80, for a total value of $242,400.00. Following the transaction, the director now owns 30,730 shares of the company’s stock, valued at $2,482,984. This represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.20% of the stock is owned by company 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.