Mirae Asset Global Investments Co. Ltd. Makes New Investment in Griffon Co. (NYSE:GFF)

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Griffon Co. (NYSE:GFFGet Rating) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,385 shares of the conglomerate’s stock, valued at approximately $431,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Co. of Vermont acquired a new stake in shares of Griffon during the second quarter worth about $42,000. Captrust Financial Advisors increased its position in shares of Griffon by 64.5% during the first quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock worth $55,000 after purchasing an additional 1,080 shares in the last quarter. KBC Group NV acquired a new stake in shares of Griffon during the first quarter worth about $86,000. Teacher Retirement System of Texas increased its position in shares of Griffon by 6.4% during the first quarter. Teacher Retirement System of Texas now owns 9,998 shares of the conglomerate’s stock worth $200,000 after purchasing an additional 600 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Griffon during the first quarter worth about $234,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Griffon in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

Griffon Stock Performance

Shares of GFF stock opened at $32.39 on Thursday. The stock has a market capitalization of $1.85 billion, a PE ratio of 7.21 and a beta of 1.53. Griffon Co. has a 52-week low of $17.56 and a 52-week high of $34.92. The stock’s 50-day moving average price is $31.45 and its 200 day moving average price is $28.54. The company has a quick ratio of 1.07, a current ratio of 2.26 and a debt-to-equity ratio of 1.74.

Griffon (NYSE:GFFGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.32. The firm had revenue of $768.18 million for the quarter, compared to analysts’ expectations of $805.00 million. Griffon had a return on equity of 21.06% and a net margin of 8.90%. As a group, equities research analysts forecast that Griffon Co. will post 3.74 EPS for the current year.

About Griffon

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Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools, as well as cleaning products for professional, home, and industrial use.

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