Chesapeake Capital Corp IL Buys 2,756 Shares of Griffon Co. (NYSE:GFF)

Chesapeake Capital Corp IL increased its position in shares of Griffon Co. (NYSE:GFF) by 72.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,543 shares of the conglomerate’s stock after acquiring an additional 2,756 shares during the period. Chesapeake Capital Corp IL’s holdings in Griffon were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of GFF. FMR LLC increased its position in shares of Griffon by 33.9% in the third quarter. FMR LLC now owns 76,213 shares of the conglomerate’s stock worth $5,335,000 after purchasing an additional 19,291 shares during the last quarter. Arcadia Investment Management Corp MI grew its stake in Griffon by 35.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 23,551 shares of the conglomerate’s stock worth $1,678,000 after buying an additional 6,125 shares in the last quarter. State Street Corp increased its holdings in shares of Griffon by 4.1% in the 3rd quarter. State Street Corp now owns 1,555,908 shares of the conglomerate’s stock worth $108,914,000 after buying an additional 61,210 shares during the last quarter. Jane Street Group LLC raised its position in shares of Griffon by 21.4% during the 3rd quarter. Jane Street Group LLC now owns 348,907 shares of the conglomerate’s stock valued at $24,423,000 after buying an additional 61,399 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Griffon by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 224,679 shares of the conglomerate’s stock worth $15,728,000 after acquiring an additional 9,417 shares during the last quarter. 73.22% of the stock is owned by institutional investors.

Insider Buying and Selling at Griffon

In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of the stock in a transaction on 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 transaction, the director now owns 30,730 shares in the company, valued at approximately $2,482,984. This represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.20% of the company’s stock.

Griffon Trading Down 0.9 %

Shares of GFF stock opened at $70.03 on Wednesday. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.34. The business has a 50-day moving average of $74.28 and a 200 day 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 Co. has a 1-year low of $55.01 and a 1-year high of $86.73.

Griffon (NYSE:GFF) last posted its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.11. Griffon had a net margin of 9.13% and a return on equity of 120.61%. As a group, sell-side analysts anticipate that Griffon Co. will post 5.55 earnings per share for the current 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 paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Tuesday, February 25th. Griffon’s payout ratio is 14.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stephens increased their target price on Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Raymond James restated a “strong-buy” rating and issued a $95.00 target price (up previously from $92.00) on shares of Griffon in a research report on Thursday, February 6th. Loop Capital upgraded shares of Griffon to a “strong-buy” rating in a research report on Friday, February 14th. Robert W. Baird boosted their price objective on shares of Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus target price of $98.75.

Griffon 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.