Research analysts at Sidoti initiated coverage on shares of Griffon (NYSE:GFF) in a report released on Friday, March 9th. The brokerage set a “buy” rating on the conglomerate’s stock.
Shares of Griffon (GFF) traded down $0.05 during mid-day trading on Friday, hitting $19.50. 316,356 shares of the stock traded hands, compared to its average volume of 132,837. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.06 and a current ratio of 2.92. Griffon has a 12 month low of $17.60 and a 12 month high of $25.15. The stock has a market cap of $916.12, a price-to-earnings ratio of 26.08 and a beta of 1.39.
Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, January 31st. The conglomerate reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.08). Griffon had a return on equity of 7.94% and a net margin of 1.83%. The company had revenue of $437.30 million for the quarter.
In related news, Director Louis J. Grabowsky purchased 2,500 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was bought at an average price of $18.33 per share, for a total transaction of $45,825.00. Following the purchase, the director now directly owns 32,594 shares in the company, valued at approximately $597,448.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas bought a new position in Griffon in the 4th quarter worth approximately $212,000. Jefferies Group LLC bought a new position in Griffon in the 4th quarter worth approximately $225,000. MetLife Investment Advisors LLC bought a new position in Griffon in the 4th quarter worth approximately $294,000. Crossmark Global Holdings Inc. bought a new position in Griffon in the 3rd quarter worth approximately $346,000. Finally, Voya Investment Management LLC boosted its holdings in Griffon by 9.3% in the 2nd quarter. Voya Investment Management LLC now owns 17,750 shares of the conglomerate’s stock worth $390,000 after buying an additional 1,511 shares during the period. 67.97% of the stock is owned by institutional investors.
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Griffon Company Profile
Griffon Corporation is a management and holding company that conducts business through its subsidiaries. The Company operates through two segments: Home & Building Products (HBP) and Telephonics Corporation (Telephonics). The HBP segment consists of three companies: The AMES Companies, Inc (AMES), Clopay Building Products Company, Inc (CBP) and ClosetMaid LLC (ClosetMaid).
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