Geode Capital Management LLC Acquires 41,991 Shares of Griffon Co. (GFF)

Geode Capital Management LLC boosted its position in shares of Griffon Co. (NYSE:GFF) by 13.0% in the fourth quarter, Holdings Channel reports. The fund owned 364,885 shares of the conglomerate’s stock after acquiring an additional 41,991 shares during the period. Geode Capital Management LLC’s holdings in Griffon were worth $3,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in Griffon in the fourth quarter valued at approximately $159,000. Citigroup Inc. lifted its holdings in Griffon by 10.2% in the fourth quarter. Citigroup Inc. now owns 22,655 shares of the conglomerate’s stock valued at $236,000 after buying an additional 2,088 shares during the period. Royce & Associates LP lifted its holdings in Griffon by 16.3% in the fourth quarter. Royce & Associates LP now owns 986,251 shares of the conglomerate’s stock valued at $10,306,000 after buying an additional 137,961 shares during the period. Texas Permanent School Fund lifted its holdings in Griffon by 4.1% in the fourth quarter. Texas Permanent School Fund now owns 22,118 shares of the conglomerate’s stock valued at $231,000 after buying an additional 879 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Griffon by 23.2% in the fourth quarter. Bank of New York Mellon Corp now owns 638,177 shares of the conglomerate’s stock valued at $6,670,000 after buying an additional 120,045 shares during the period. 65.56% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE GFF opened at $19.34 on Friday. Griffon Co. has a fifty-two week low of $9.65 and a fifty-two week high of $23.55. The company has a market capitalization of $918.91 million, a P/E ratio of 25.45 and a beta of 2.12. The company has a current ratio of 2.50, a quick ratio of 1.26 and a debt-to-equity ratio of 2.42.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, January 31st. The conglomerate reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.14. Griffon had a net margin of 5.04% and a return on equity of 8.25%. The business had revenue of $510.52 million for the quarter, compared to analyst estimates of $518.74 million. Research analysts predict that Griffon Co. will post 0.99 EPS for the current fiscal year.

Several brokerages recently weighed in on GFF. Robert W. Baird set a $18.00 price objective on shares of Griffon and gave the company a “hold” rating in a report on Monday. Zacks Investment Research lowered shares of Griffon from a “buy” rating to a “hold” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Griffon has a consensus rating of “Hold” and a consensus price target of $18.40.

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Griffon Company Profile

Griffon Corporation, through its subsidiaries, engages in the home and building products, and defense electronics businesses primarily in the United States, Canada, Australia, the United Kingdom, Mexico, and China. The company's Home & Building Products segment manufactures and markets 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; residential and commercial garage doors to professional dealers and various home center retail chains; and rolling steel door and grille products designed for commercial, industrial, institutional, and retail uses, as well as long-handled tools and landscaping products for homeowners and professionals.

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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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