Griffon Co. (NYSE:GFF) Short Interest Up 26.9% in May

Griffon Co. (NYSE:GFFGet Free Report) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 2,360,000 shares, an increase of 26.9% from the April 30th total of 1,860,000 shares. Currently, 5.8% of the shares of the stock are sold short. Based on an average trading volume of 372,900 shares, the days-to-cover ratio is currently 6.3 days.

Griffon Price Performance

Shares of NYSE GFF traded up $1.39 during trading hours on Friday, reaching $67.54. 371,039 shares of the stock traded hands, compared to its average volume of 380,898. The company has a quick ratio of 1.56, a current ratio of 2.78 and a debt-to-equity ratio of 7.80. The company’s 50-day simple moving average is $68.99 and its two-hundred day simple moving average is $63.26. The company has a market capitalization of $3.35 billion, a P/E ratio of 17.82 and a beta of 1.43. Griffon has a 52-week low of $31.27 and a 52-week high of $77.99.

Griffon (NYSE:GFFGet Free Report) last posted its earnings results on Wednesday, May 8th. The conglomerate reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.51. Griffon had a return on equity of 90.02% and a net margin of 7.48%. The firm had revenue of $672.88 million for the quarter, compared to analysts’ expectations of $625.22 million. During the same period in the previous year, the firm earned $1.21 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts forecast that Griffon will post 4.8 EPS for the current year.

Griffon Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. Raymond James raised their price objective on Griffon from $60.00 to $75.00 and gave the company a “strong-buy” rating in a report on Monday, February 5th. Finally, Robert W. Baird raised their price objective on Griffon from $84.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Griffon currently has a consensus rating of “Strong Buy” and a consensus target price of $81.00.

Check Out Our Latest Analysis on GFF

Institutional Investors Weigh In On Griffon

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Griffon by 1.3% during the third quarter. Vanguard Group Inc. now owns 5,952,411 shares of the conglomerate’s stock valued at $236,132,000 after purchasing an additional 77,058 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in 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 acquiring an additional 289,208 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Griffon by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,354,467 shares of the conglomerate’s stock worth $82,557,000 after acquiring an additional 30,710 shares in the last quarter. LSV Asset Management boosted its holdings in Griffon by 486.0% in the first quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock worth $66,834,000 after acquiring an additional 755,773 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Griffon by 22.6% in the fourth quarter. Raymond James & Associates now owns 529,181 shares of the conglomerate’s stock worth $32,254,000 after acquiring an additional 97,390 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors.

Griffon Company Profile

(Get 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.

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