Chesapeake Capital Corp IL Buys Shares of 21,036 Griffon Co. (NYSE:GFF)

Chesapeake Capital Corp IL bought a new stake in shares of Griffon Co. (NYSE:GFFFree Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,036 shares of the conglomerate’s stock, valued at approximately $1,282,000. Griffon comprises approximately 0.9% of Chesapeake Capital Corp IL’s holdings, making the stock its 20th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GFF. Pacer Advisors Inc. increased its stake in shares of Griffon by 22.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,598,353 shares of the conglomerate’s stock worth $97,420,000 after purchasing an additional 289,208 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Griffon by 1.3% in the third quarter. Vanguard Group Inc. now owns 5,952,411 shares of the conglomerate’s stock worth $236,132,000 after purchasing an additional 77,058 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Griffon by 10.1% in the third quarter. Johnson Investment Counsel Inc. now owns 32,801 shares of the conglomerate’s stock worth $1,301,000 after purchasing an additional 3,000 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Griffon by 32.5% during the third quarter. Primecap Management Co. CA now owns 221,700 shares of the conglomerate’s stock worth $8,795,000 after acquiring an additional 54,400 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in shares of Griffon during the third quarter worth $842,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on GFF. Raymond James increased their price objective on shares of Griffon from $60.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Monday, February 5th. StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird increased their price objective on shares of Griffon from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Griffon has a consensus rating of “Strong Buy” and an average target price of $81.00.

View Our Latest Stock Report on GFF

Griffon Trading Up 2.5 %

Shares of Griffon stock traded up $1.64 during trading on Friday, hitting $67.48. The stock had a trading volume of 345,739 shares, compared to its average volume of 413,074. The firm’s fifty day simple moving average is $69.50 and its 200-day simple moving average is $62.62. The stock has a market cap of $3.34 billion, a PE ratio of 17.80 and a beta of 1.43. 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 Co. has a 12 month low of $31.27 and a 12 month high of $77.99.

Griffon (NYSE:GFFGet Free Report) last released its earnings results on Wednesday, May 8th. The conglomerate reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.51. The firm had revenue of $672.88 million during the quarter, compared to analyst estimates of $625.22 million. Griffon had a net margin of 7.48% and a return on equity of 90.02%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $1.21 EPS. As a group, sell-side analysts expect that Griffon Co. will post 4.8 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, May 29th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 29th. Griffon’s dividend payout ratio is presently 15.83%.

About Griffon

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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