Loomis Sayles & Co. L P Cuts Holdings in Griffon Co. (NYSE:GFF)

Loomis Sayles & Co. L P lessened its position in shares of Griffon Co. (NYSE:GFF) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,852 shares of the conglomerate’s stock after selling 12,379 shares during the period. Loomis Sayles & Co. L P owned approximately 0.43% of Griffon worth $14,671,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new stake in shares of Griffon during the 4th quarter worth about $33,000. R Squared Ltd purchased a new stake in Griffon during the fourth quarter worth approximately $37,000. Smartleaf Asset Management LLC raised its stake in shares of Griffon by 343.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate’s stock valued at $78,000 after acquiring an additional 845 shares during the period. Quarry LP lifted its holdings in shares of Griffon by 86.9% during the 3rd quarter. Quarry LP now owns 1,452 shares of the conglomerate’s stock valued at $102,000 after acquiring an additional 675 shares in the last quarter. Finally, KBC Group NV boosted its position in Griffon by 43.1% during the 4th quarter. KBC Group NV now owns 1,729 shares of the conglomerate’s stock worth $123,000 after purchasing an additional 521 shares during the period. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Stock Performance

Griffon stock opened at $70.53 on Friday. Griffon Co. has a 52 week low of $55.01 and a 52 week 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 market cap of $3.39 billion, a P/E ratio of 14.39 and a beta of 1.40. The stock has a 50 day moving average of $74.07 and a 200-day moving average of $72.69.

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

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, February 25th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, February 25th. Griffon’s dividend payout ratio is currently 14.69%.

Insider Buying and Selling at Griffon

In other news, Director Cheryl L. Turnbull sold 3,000 shares of the business’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GFF shares. StockNews.com cut Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Stephens upped their price target on Griffon from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Raymond James reiterated a “strong-buy” rating and set a $95.00 price objective (up previously from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Finally, Loop Capital upgraded shares of Griffon to a “strong-buy” rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Griffon currently has an average rating of “Buy” and a consensus price target 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.