Benson Investment Management Company Inc. Buys Shares of 45,463 Griffon Co. (NYSE:GFF)

Benson Investment Management Company Inc. bought a new stake in shares of Griffon Co. (NYSE:GFF) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 45,463 shares of the conglomerate’s stock, valued at approximately $3,182,000.

A number of other large investors have also recently bought and sold shares of the stock. Ritholtz Wealth Management grew its holdings in Griffon by 5.0% during the 3rd quarter. Ritholtz Wealth Management now owns 3,913 shares of the conglomerate’s stock valued at $274,000 after buying an additional 187 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Griffon by 5.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock worth $256,000 after purchasing an additional 201 shares during the period. Essex Investment Management Co. LLC lifted its stake in shares of Griffon by 0.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 39,526 shares of the conglomerate’s stock worth $2,899,000 after purchasing an additional 213 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Griffon by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,753 shares of the conglomerate’s stock worth $1,134,000 after purchasing an additional 231 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Griffon by 2.2% during the 2nd quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate’s stock worth $930,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Griffon Trading Up 1.0 %

Shares of GFF opened at $68.76 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The firm has a market capitalization of $3.41 billion, a P/E ratio of 18.14 and a beta of 1.29. The stock’s fifty day simple moving average is $65.69 and its 200 day simple moving average is $67.08. Griffon Co. has a twelve month low of $38.33 and a twelve month high of $77.99.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). The firm had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. On average, equities research analysts forecast that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 annualized dividend and a yield of 0.87%. Griffon’s dividend payout ratio is currently 15.83%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GFF shares. Stephens reissued an “overweight” rating and set a $85.00 price target on shares of Griffon in a research note on Tuesday, September 10th. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Robert W. Baird reduced their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $81.50.

Insider Activity at Griffon

In related news, CFO Brian G. Harris sold 13,314 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.10, for a total value of $880,055.40. Following the completion of the sale, the chief financial officer now directly owns 199,748 shares in the company, valued at approximately $13,203,342.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Brian G. Harris sold 13,314 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.10, for a total transaction of $880,055.40. Following the completion of the sale, the chief financial officer now directly owns 199,748 shares in the company, valued at $13,203,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin F. Sullivan sold 12,447 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total value of $809,055.00. Following the sale, the director now owns 50,390 shares of the company’s stock, valued at $3,275,350. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 253,020 shares of company stock worth $16,722,924. Corporate insiders own 16.10% of the company’s stock.

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.