Federated Hermes Inc. Purchases 819 Shares of Griffon Co. (NYSE:GFF)

Federated Hermes Inc. lifted its position in shares of Griffon Co. (NYSE:GFF) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,243 shares of the conglomerate’s stock after purchasing an additional 819 shares during the period. Federated Hermes Inc. owned 0.21% of Griffon worth $7,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GFF. Raymond James Financial Inc. bought a new position in Griffon during the 4th quarter worth $43,325,000. Norges Bank acquired a new position in shares of Griffon in the fourth quarter valued at about $21,451,000. abrdn plc bought a new position in Griffon during the fourth quarter worth about $12,842,000. Vanguard Group Inc. increased its position in Griffon by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate’s stock worth $454,406,000 after acquiring an additional 177,771 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Griffon in the 3rd quarter worth about $9,800,000. 73.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GFF has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Griffon in a research report on Tuesday, April 1st. They set a “buy” rating and a $91.00 target price on the stock. Stephens raised their price objective on Griffon from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. StockNews.com downgraded Griffon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Loop Capital upgraded Griffon to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $95.00 price objective (up previously from $92.00) on shares of Griffon in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $97.20.

Insider Activity at Griffon

In other news, Director Cheryl L. Turnbull sold 3,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.20% of the stock is owned by insiders.

Griffon Trading Down 3.3 %

Shares of GFF opened at $69.80 on Friday. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. Griffon Co. has a 52-week low of $55.01 and a 52-week high of $86.73. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 14.24 and a beta of 1.26. The business’s fifty day moving average is $72.52 and its 200-day moving average is $72.91.

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

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, February 25th were given 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 of this dividend was Tuesday, February 25th. Griffon’s dividend payout ratio is 14.69%.

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.