Griffon Corporation (GFF) Rating Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of Griffon Corporation (NYSE:GFF) from a sell rating to a strong sell rating in a report released on Tuesday, July 25th.

Shares of Griffon Corporation (GFF) traded down 0.52% during mid-day trading on Tuesday, reaching $19.00. The company’s stock had a trading volume of 412,822 shares. The company has a 50-day moving average of $20.84 and a 200-day moving average of $23.11. Griffon Corporation has a 12 month low of $15.88 and a 12 month high of $27.15. The company has a market cap of $791.96 million, a P/E ratio of 25.07 and a beta of 1.39.

Griffon Corporation (NYSE:GFF) last posted its earnings results on Wednesday, August 2nd. The conglomerate reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by $0.08. The company had revenue of $473.32 million during the quarter. Griffon Corporation had a return on equity of 8.46% and a net margin of 1.79%. Equities research analysts forecast that Griffon Corporation will post $0.85 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, August 22nd. Griffon Corporation’s dividend payout ratio is presently 29.63%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Griffon Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,109 shares of the conglomerate’s stock valued at $156,000 after buying an additional 1,066 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Griffon Corporation by 75.4% in the second quarter. BNP Paribas Arbitrage SA now owns 13,197 shares of the conglomerate’s stock valued at $290,000 after buying an additional 5,673 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Griffon Corporation by 6.2% in the second quarter. Thrivent Financial For Lutherans now owns 18,850 shares of the conglomerate’s stock valued at $414,000 after buying an additional 1,100 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Griffon Corporation during the second quarter valued at $477,000. Finally, Texas Permanent School Fund boosted its position in shares of Griffon Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 22,785 shares of the conglomerate’s stock valued at $500,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 70.08% of the company’s stock.

Griffon Corporation Company Profile

Griffon Corporation is a management and holding company that conducts business through its subsidiaries. The Company operates through three segments: Home & Building Products (HBP), Telephonics Corporation (Telephonics) and Clopay Plastic Products Company, Inc (PPC). The HBP segment consists of two companies: The AMES Companies, Inc (AMES) and Clopay Building Products Company, Inc (CBP).

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