Griffon Co. (NYSE:GFF) has been assigned an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.25.
Several research analysts recently issued reports on the company. Zacks Investment Research downgraded Griffon from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Robert W. Baird set a $18.00 price target on Griffon and gave the company a “hold” rating in a report on Monday, April 22nd.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of Griffon by 117.7% in the first quarter. Goldman Sachs Group Inc. now owns 610,422 shares of the conglomerate’s stock valued at $11,281,000 after purchasing an additional 330,006 shares during the last quarter. Oxford Asset Management LLP acquired a new position in shares of Griffon in the first quarter valued at $547,000. Claybrook Capital LLC acquired a new position in shares of Griffon in the first quarter valued at $1,045,000. Hsbc Holdings PLC increased its holdings in shares of Griffon by 8.9% in the first quarter. Hsbc Holdings PLC now owns 16,580 shares of the conglomerate’s stock valued at $307,000 after purchasing an additional 1,357 shares during the last quarter. Finally, Pinebridge Investments L.P. acquired a new position in shares of Griffon in the first quarter valued at $695,000. 65.54% of the stock is owned by institutional investors.
Griffon (NYSE:GFF) last issued its earnings results on Thursday, May 2nd. The conglomerate reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. The firm had revenue of $549.63 million during the quarter, compared to analysts’ expectations of $556.35 million. Griffon had a net margin of 0.57% and a return on equity of 9.03%. On average, sell-side analysts expect that Griffon will post 1.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.0725 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.29 annualized dividend and a dividend yield of 1.93%. Griffon’s dividend payout ratio is presently 38.16%.
Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.
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