Filing Worth Mentioning: Goldman Sachs Group Inc Just Opened Huge Griffon Corp Position

Filing Worth Mentioning: Goldman Sachs Group Inc Just Opened Huge Griffon Corp Position

The New Goldman Sachs Group Inc Holding in Griffon Corp

Goldman Sachs Group Inc filed with the SEC SC 13D/A form for Griffon Corp. The form can be accessed here: 000089534516000600. As reported in Goldman Sachs Group Inc’s form, the filler as of late owns 13% or 5,839,586 shares of the Industrials–company.

Griffon Corp stake is a new one for the for this institutional investor and it was filed because of activity on November 16, 2016. We feel this shows Goldman Sachs Group Inc’s positive view for the stock. For a institutional investor managing $614.00 billion in assets and having 1085+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

Reasons Why Goldman Sachs Group Inc Bought – Griffon Corp Stock

Purpose of Transaction

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Item 4 of the Amended 13D is hereby amended and supplemented by adding the following information:

On November 16, 2016, GS Direct and the Issuer entered into a Letter Agreement, pursuant to which the parties agreed to amend Section 10 of the Repurchase Agreement (“Right of First Negotiation, Investment Agreement and Registration Rights Agreement”) to extend the right of first offer period thereunder from December 31, 2016 to December 31, 2017. As so amended, if, subject to certain exceptions, GS Direct intends to seek to sell any shares of Common Stock at any time after the closing of the Repurchase Transaction but prior to December 31, 2017, it will notify the Issuer of such intent and the Issuer will thereafter have a period of twenty-one days to negotiate and close its acquisition of such shares, after which period GS Direct will be free to sell such shares to a third party (subject to applicable law and applicable restrictions of the Investment Agreement).

Griffon Corp Institutional Sentiment

Latest Security and Exchange filings show 128 investors own Griffon Corp. The institutional ownership in Q3 2015 is high, at 97.36% of the outstanding shares. This is increased by 7197803 the total institutional shares. 43848993 were the shares owned by these institutional investors. In total 15 funds opened new Griffon Corp stakes, 36 increased stakes. There were 20 that closed positions and 52 reduced them.

Wealthtrust Axiom Llc is an institutional investor bullish on Griffon Corp, owning 32400 shares as of Q3 2015 for 0.21% of its portfolio. Ironwood Investment Management Llc owns 53335 shares or 0.31% of its portfolio. NY Teton Advisors Inc have 0.52% of their stock portfolio for 435241 shares. Further, Fourpoints Investment Managers Sas reported stake worth 0.21% of its US stock portfolio. The NY Gamco Investors Inc Et Al owns 6264041 shares. Griffon Corp is 0.65% of the manager’s US portfolio.

Business Profile

Griffon Corporation is a management and holding company that conducts business through its subsidiaries. The Company operates through three segments: Home & Building Products (HBP), Telephonics Corporation (Telephonics) and Clopay Plastic Products Company, Inc. (PPC). The HBP segment consists of two companies: The AMES Companies, Inc. (AMES) and Clopay Building Products Company, Inc. (CBP). AMES is a provider of non-powered landscaping products for homeowners and professionals. CBP is a manufacturer and marketer of residential, commercial and industrial garage doors to professional dealers and home center retail chains. The Telephonics segment designs, develops and manufactures integrated information, communication and sensor system solutions for military and commercial markets across the world. The PPC segment is engaged in the development and production of embossed, laminated and printed specialty plastic films used in a range of hygienic, healthcare and industrial applications.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Goldman Sachs Group Inc website.

Insitutional Activity: The institutional sentiment increased to 0.75 in Q2 2016. Its up 0.06, from 0.69 in 2016Q1. The ratio increased, as 6 funds sold all Griffon Corporation shares owned while 49 reduced positions. 12 funds bought stakes while 26 increased positions. They now own 35.03 million shares or 0.27% less from 35.13 million shares in 2016Q1.

Jefferies Gru Lc has 56,575 shares for 0% of their US portfolio. Shell Asset Mngmt holds 0.02% or 58,357 shares in its portfolio. Norman Fields Gottscho Cap Ltd holds 67,025 shares or 0.79% of its portfolio. Deutsche Financial Bank Ag accumulated 0% or 68,108 shares. Edge Wealth Ltd Limited Liability Company last reported 1,000 shares in the company. Peak6 L P has 2,117 shares for 0% of their US portfolio. Springbok Limited Liability Com last reported 4,100 shares in the company. Ironwood Investment Mngmt Limited Com owns 38,335 shares or 0.48% of their US portfolio. Gsa Prns Limited Liability Partnership, a United Kingdom-based fund reported 62,818 shares. Us National Bank De last reported 928 shares in the company. Jpmorgan Chase & Co owns 26,564 shares or 0% of their US portfolio. Blackrock Fund last reported 2.16 million shares in the company. Thrivent For Lutherans has 17,750 shares for 0% of their US portfolio. Bridgeway Cap Mgmt Incorporated accumulated 281,150 shares or 0.07% of the stock. Aqr Cap Mngmt Ltd Co has 0% invested in the company for 63,540 shares.

The stock increased 3.98% or $0.85 on November 21, hitting $22.2. About 956,753 shares traded hands or 327.62% up from the average. Griffon Corporation (NYSE:GFF) has risen 36.33% since April 19, 2016 and is uptrending. It has outperformed by 32.47% the S&P500.

Griffon Corporation is a management and holding firm that conducts business through its subsidiaries. The company has a market cap of $1.05 billion. The Firm operates through three divisions: Home & Building Products , Telephonics Corporation (Telephonics) and Clopay Plastic Products Company, Inc. (PPC). It has a 32.62 P/E ratio. The HBP segment consists of two companies: The AMES Companies, Inc. (AMES) and Clopay Building Products Company, Inc. (CBP).

More important recent Griffon Corporation (NYSE:GFF) news were published by: Businesswire.com which released: “Griffon Corporation Declares Quarterly Dividend” on November 16, 2016, also Finance.Yahoo.com published article titled: “Griffon Corporation Schedules Conference Call To Discuss Fourth Quarter and …”, Businesswire.com published: “Griffon Corporation Announces Third Quarter Results” on August 03, 2016. More interesting news about Griffon Corporation (NYSE:GFF) was released by: Businesswire.com and their article: “Griffon Corporation Announces Pricing of $125 Million Add-On Offering of …” with publication date: May 13, 2016.

According to Zacks Investment Research, “Griffon is a diversified manuf acturing company with operations in four business segments: Garage Doors; Installation Services; Specialty Plastic Films; and Electronic Information and Communication Systems. The company’s Garage Doors segment designs and manufactures garage doors for use in the residential housing and commercial building markets. The Installation Services segment sells, installs and services garage doors, garage door openers, manufactured fireplaces, floor coverings, cabinetry and a range of related building products primarily for the residential housing.”

GFF Company Profile

Griffon Corporation (Griffon), incorporated on December 29, 1970, is a management and holding firm that conducts business through its subsidiaries. The Firm operates through three divisions: Home & Building Products (HBP), Telephonics Corporation (Telephonics) and Clopay Plastic Products Company, Inc. (PPC). The HBP segment consists of two companies: The AMES Companies, Inc. (AMES) and Clopay Building Products Company, Inc. (CBP). AMES is a well-known provider of non-powered landscaping products for homeowners and professionals. CBP is a maker and marketer of residential, commercial and industrial garage doors to professional dealers and home center retail chains. The Telephonics segment designs, develops and makes integrated information, communication and sensor system solutions for military and commercial markets across the world. The PPC segment is engaged in the development and production of embossed, laminated and printed specialty plastic films used in a range of hygienic, healthcare and industrial applications.

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