Mutual of America Capital Management LLC Decreases Position in Griffon Corporation (NYSE:GFF)

Mutual of America Capital Management LLC trimmed its holdings in shares of Griffon Corporation (NYSE:GFF) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,745 shares of the conglomerate’s stock after selling 268 shares during the period. Mutual of America Capital Management LLC’s holdings in Griffon were worth $411,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GFF. McIlrath & Eck LLC increased its stake in shares of Griffon by 116.1% during the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate’s stock valued at $27,000 after buying an additional 202 shares during the period. Signaturefd LLC boosted its holdings in Griffon by 72.9% in the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 234 shares in the last quarter. CWM LLC increased its position in Griffon by 26.1% during the 1st quarter. CWM LLC now owns 2,000 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 414 shares during the period. GAMMA Investing LLC lifted its position in shares of Griffon by 153.1% in the 1st quarter. GAMMA Investing LLC now owns 2,718 shares of the conglomerate’s stock worth $194,000 after purchasing an additional 1,644 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Griffon during the 4th quarter valued at approximately $204,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Griffon Price Performance

NYSE GFF opened at $72.90 on Wednesday. The company has a 50-day moving average price of $74.88 and a 200-day moving average price of $72.63. Griffon Corporation has a 52 week low of $59.98 and a 52 week high of $86.73. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58. The firm has a market capitalization of $3.39 billion, a P/E ratio of 54.40, a PEG ratio of 1.06 and a beta of 1.09.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. Griffon had a net margin of 2.78% and a return on equity of 144.21%. The company had revenue of $613.63 million during the quarter, compared to analyst estimates of $649.95 million. During the same period in the previous year, the business posted $1.24 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities research analysts anticipate that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, August 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Griffon’s payout ratio is 53.73%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GFF shares. Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price target (up previously from $95.00) on shares of Griffon in a research report on Friday, May 9th. Robert W. Baird lifted their target price on Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Griffon currently has an average rating of “Buy” and an average price target of $98.20.

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.