Griffon (GFF) – Investment Analysts’ Recent Ratings Changes

Posted by Trent Williams on Nov 27th, 2024

Griffon (NYSE: GFF) has recently received a number of price target changes and ratings updates:

11/23/2024 – Griffon was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
11/20/2024 – Griffon had its price target raised by analysts at Robert W. Baird from $92.00 to $100.00. They now have an “outperform” rating on the stock.
11/15/2024 – Griffon was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
11/14/2024 – Griffon had its price target raised by analysts at Stephens from $85.00 to $100.00. They now have an “overweight” rating on the stock.
11/7/2024 – Griffon was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
10/30/2024 – Griffon was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
10/21/2024 – Griffon had its price target raised by analysts at Robert W. Baird from $84.00 to $92.00. They now have an “outperform” rating on the stock.
10/12/2024 – Griffon was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
10/4/2024 – Griffon was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

Griffon Trading Down 1.0 %

NYSE:GFF traded down $0.82 during midday trading on Wednesday, hitting $83.55. 130,744 shares of the company traded hands, compared to its average volume of 439,434. Griffon Co. has a 12-month low of $45.70 and a 12-month high of $86.73. The firm has a market capitalization of $4.00 billion, a P/E ratio of 19.75 and a beta of 1.31. The company has a current ratio of 2.66, a quick ratio of 1.44 and a debt-to-equity ratio of 6.74. The firm’s fifty day moving average is $69.71 and its 200-day moving average is $67.32.

Griffon (NYSE:GFF – Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The conglomerate reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.29. The company had revenue of $659.70 million during the quarter, compared to analysts’ expectations of $641.24 million. Griffon had a net margin of 8.00% and a return on equity of 108.70%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.19 EPS. On average, sell-side analysts predict that Griffon Co. will post 5.57 EPS for the current year.

Griffon Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.86%. This is a positive change from Griffon’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, November 25th. Griffon’s payout ratio is presently 17.02%.

Insider Transactions at Griffon

In other news, SVP Seth L. Kaplan sold 4,844 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $339,080.00. Following the sale, the senior vice president now directly owns 198,571 shares of the company’s stock, valued at $13,899,970. The trade was a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.26, for a total value of $6,226,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,260,746 shares in the company, valued at $140,754,045.96. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 603,517 shares of company stock valued at $42,818,506 in the last 90 days. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Street Corp raised its holdings in shares of Griffon by 4.1% during the third quarter. State Street Corp now owns 1,555,908 shares of the conglomerate’s stock valued at $108,914,000 after acquiring an additional 61,210 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Griffon by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,379,000 shares of the conglomerate’s stock valued at $88,066,000 after purchasing an additional 19,644 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Griffon by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 877,840 shares of the conglomerate’s stock valued at $61,463,000 after purchasing an additional 30,264 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Griffon by 9.6% during the second quarter. Renaissance Technologies LLC now owns 631,851 shares of the conglomerate’s stock worth $40,350,000 after buying an additional 55,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Griffon by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 519,926 shares of the conglomerate’s stock valued at $36,395,000 after buying an additional 34,525 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

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.