Bryce Point Capital LLC Acquires New Holdings in Griffon Co. (NYSE:GFF)

Bryce Point Capital LLC bought a new stake in shares of Griffon Co. (NYSE:GFF) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 23,118 shares of the conglomerate’s stock, valued at approximately $1,648,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new position in Griffon in the fourth quarter valued at about $30,000. Grove Bank & Trust purchased a new stake in shares of Griffon during the 4th quarter valued at about $33,000. R Squared Ltd bought a new position in shares of Griffon in the 4th quarter worth approximately $37,000. Headlands Technologies LLC purchased a new position in shares of Griffon in the fourth quarter worth approximately $64,000. Finally, Smartleaf Asset Management LLC grew its position in Griffon by 343.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate’s stock valued at $78,000 after buying an additional 845 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on GFF shares. Raymond James reiterated a “strong-buy” rating and issued a $95.00 price target (up from $92.00) on shares of Griffon in a research report on Thursday, February 6th. Loop Capital raised Griffon to a “strong-buy” rating in a report on Friday, February 14th. StockNews.com lowered Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Griffon in a research note on Tuesday. They issued a “buy” rating and a $91.00 price objective on the stock. Finally, Stephens boosted their price objective on Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $97.20.

Griffon Trading Up 2.1 %

Shares of GFF stock opened at $73.02 on Wednesday. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. The stock has a fifty day simple moving average of $73.85 and a two-hundred day simple moving average of $72.92. The firm has a market capitalization of $3.51 billion, a PE ratio of 14.90 and a beta of 1.40. Griffon Co. has a 52-week low of $55.01 and a 52-week high of $86.73.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (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, analysts predict that Griffon Co. will post 5.55 EPS for the current fiscal year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Tuesday, February 25th. Griffon’s dividend payout ratio (DPR) is presently 14.69%.

Insider Buying and Selling

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

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.