Federated Hermes Inc. Has $5.12 Million Holdings in Griffon Co. (NYSE:GFF)

Federated Hermes Inc. reduced its position in shares of Griffon Co. (NYSE:GFF) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,038 shares of the conglomerate’s stock after selling 12,177 shares during the period. Federated Hermes Inc. owned about 0.16% of Griffon worth $5,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Griffon by 17.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,327 shares of the conglomerate’s stock worth $447,000 after purchasing an additional 1,062 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Griffon during the 4th quarter worth about $236,000. Vontobel Holding Ltd. acquired a new stake in Griffon in the 4th quarter valued at about $313,000. Louisiana State Employees Retirement System acquired a new position in Griffon during the fourth quarter worth approximately $1,249,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Griffon in the fourth quarter valued at approximately $315,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Insider Buying and Selling

In other news, Director James W. Sight sold 2,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $67.38, for a total transaction of $134,760.00. Following the completion of the transaction, the director now directly owns 18,843 shares in the company, valued at $1,269,641.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.10% of the stock is owned by corporate insiders.

Griffon Trading Down 0.5 %

GFF opened at $67.45 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.46 and a debt-to-equity ratio of 5.02. Griffon Co. has a twelve month low of $27.45 and a twelve month high of $75.18. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 50.34 and a beta of 1.41. The company has a 50-day simple moving average of $69.73 and a 200 day simple moving average of $58.10.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The business had revenue of $643.20 million for the quarter, compared to analysts’ expectations of $595.87 million. During the same period last year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts predict that Griffon Co. will post 4.52 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were paid a $0.15 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. Griffon’s payout ratio is currently 44.78%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Raymond James raised their price target on Griffon from $60.00 to $75.00 and gave the company a “strong-buy” rating in a report on Monday, February 5th. StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 2nd. Robert W. Baird increased their target price on Griffon from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Griffon from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $69.50.

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.