Counterpoint Mutual Funds LLC Sells 2,609 Shares of Griffon Co. (NYSE:GFF)

Counterpoint Mutual Funds LLC reduced its holdings in shares of Griffon Co. (NYSE:GFF) by 38.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,182 shares of the conglomerate’s stock after selling 2,609 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Griffon were worth $298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Grove Bank & Trust bought a new stake in Griffon during the 4th quarter valued at $33,000. R Squared Ltd acquired a new position in shares of Griffon in the fourth quarter valued at about $37,000. Smartleaf Asset Management LLC increased its holdings in shares of Griffon by 343.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate’s stock valued at $78,000 after purchasing an additional 845 shares during the period. Quarry LP increased its holdings in shares of Griffon by 86.9% in the third quarter. Quarry LP now owns 1,452 shares of the conglomerate’s stock valued at $102,000 after purchasing an additional 675 shares during the period. Finally, KBC Group NV increased its holdings in shares of Griffon by 43.1% in the fourth quarter. KBC Group NV now owns 1,729 shares of the conglomerate’s stock valued at $123,000 after purchasing an additional 521 shares during the period. 73.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Cheryl L. Turnbull sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $80.80, for a total value of $242,400.00. Following the completion of the sale, the director now directly owns 30,730 shares of the company’s stock, valued at approximately $2,482,984. The trade was a 8.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.20% of the stock is owned by company insiders.

Griffon Trading Down 0.9 %

Shares of NYSE GFF opened at $70.03 on Wednesday. Griffon Co. has a twelve month low of $55.01 and a twelve month high of $86.73. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44. The stock has a fifty day simple moving average of $74.28 and a 200-day simple moving average of $72.31. The stock has a market capitalization of $3.33 billion, a PE ratio of 14.29 and a beta of 1.40.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 EPS for the quarter, topping the consensus estimate of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. On average, equities analysts forecast that Griffon Co. will post 5.55 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Tuesday, February 25th. Griffon’s dividend payout ratio (DPR) is 14.69%.

Wall Street Analysts Forecast Growth

GFF has been the topic of several analyst reports. Raymond James reaffirmed a “strong-buy” rating and set a $95.00 target price (up from $92.00) on shares of Griffon in a report on Thursday, February 6th. Stephens raised their target price on Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Robert W. Baird lifted their price objective on Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, Loop Capital raised Griffon to a “strong-buy” rating in a research note on Friday, February 14th. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus price target of $98.75.

About Griffon

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.