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Activist Investor GAMCO Trims Stake in Griffon Corporation (GFF)

Fintel reports that Gamco Investors, Inc. Et Al has filed a 13D/A form with the SEC disclosing ownership of 2,842,053 shares of Griffon Corporation (GFF). This represents 4.98% of the company.

In their previous filing dated August 26, 2022 they reported 3,070,019 shares and 5.38% of the company, a decrease in shares of 7.43% and a decrease in total ownership of 0.40% (calculated as current – previous percent ownership).

Griffon Corporation is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures.

Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.

What are other large shareholders doing?

Voss Capital, LLC holds 2,526,345 shares representing 4.58% ownership of the company. In it’s prior filing, the firm reported owning 1,830,000 shares, representing an increase of 27.56%. The firm increased its portfolio allocation in GFF by 0.01% over the last quarter.

Allspring Global Investments Holdings, LLC holds 1,983,496 shares representing 3.59% ownership of the company. In it’s prior filing, the firm reported owning 2,132,472 shares, representing a decrease of 7.51%. The firm decreased its portfolio allocation in GFF by 55.60% over the last quarter.

State Street Corp holds 1,831,454 shares representing 3.32% ownership of the company. In it’s prior filing, the firm reported owning 1,929,225 shares, representing a decrease of 5.34%. The firm increased its portfolio allocation in GFF by 60.97% over the last quarter.

Gabelli Funds Llc holds 1,489,000 shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 1,602,500 shares, representing a decrease of 7.62%. The firm increased its portfolio allocation in GFF by 5.07% over the last quarter.

What is the overall institutional sentiment?

There are 503 funds or institutions reporting positions in Griffon Corporation. This is an increase of 65 owner(s) or 14.84%.

Average portfolio weight of all funds dedicated to Griffon Corporation is 0.2094%, an increase of 25.7955%. Total shares owned by institutions decreased in the last three months by 0.53% to 54,263,313 shares.

Based on this information, institutional sentiment is bullish.

This article originally appeared on Fintel

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