Goldman Sachs Group Inc Acquired Stake in Griffon Corp

August 10, 2017 - By Linda Rogers

 Goldman Sachs Group Inc Acquired Stake in Griffon Corp

Investors sentiment increased to 0.83 in Q4 2016. Its up 0.08, from 0.75 in 2016Q3. It increased, as 14 investors sold Griffon Corporation shares while 45 reduced holdings. 20 funds opened positions while 29 raised stakes. 33.32 million shares or 3.99% less from 34.71 million shares in 2016Q3 were reported.

Axa holds 0.01% or 92,220 shares. California State Teachers Retirement Systems has invested 0% in Griffon Corporation (NYSE:GFF). Ameriprise Financial accumulated 216,236 shares or 0% of the stock. Allianz Asset Ag holds 0% or 19,352 shares in its portfolio. Connecticut-based Cubist Systematic Strategies Limited Co has invested 0.08% in Griffon Corporation (NYSE:GFF). Blackrock Inv Mngmt Lc holds 0% of its portfolio in Griffon Corporation (NYSE:GFF) for 156,193 shares. California Employees Retirement holds 0% of its portfolio in Griffon Corporation (NYSE:GFF) for 80,727 shares. Mesirow Fincl Management invested in 0.02% or 14,538 shares. Guggenheim Cap Limited Company holds 0.01% or 102,346 shares. The Hong Kong-based Point72 Asia (Hong Kong) Ltd has invested 0.08% in Griffon Corporation (NYSE:GFF). Shell Asset Management holds 55,315 shares or 0.04% of its portfolio. Pub Employees Retirement Association Of Colorado stated it has 0% of its portfolio in Griffon Corporation (NYSE:GFF). Thrivent Fincl For Lutherans invested 0% in Griffon Corporation (NYSE:GFF). Barclays Public Limited Liability invested in 1,896 shares. Franklin holds 1.37M shares or 0.02% of its portfolio.

The New Goldman Sachs Group Inc Holding in Griffon Corp

Goldman Sachs Group Inc reported SC 13D/A form with the SEC for Griffon Corp. Access it here: 000089534517000272. As reported by Goldman Sachs Group Inc, the filler owns 12.4% or 5,844,652 shares of the Industrials–company.

Griffon Corp stake is new for [reportingPerson]. Date of activity: August 8, 2017. This shows Goldman Sachs Group Inc’s positive view for Griffon Corp. For a institutional investor managing $614.00 billion in assets and having 1085+ experts this is interesting position.

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 August 8, 2017, Broad Street Principal Investments, L.L.C. (“BSPI”), an affiliate of the Reporting Persons, and the Issuer extended the term of a Confidentiality Agreement (“Confidentiality Agreement”) until August 8, 2019. Under the Confidentiality Agreement, BSPI and the Issuer agreed, among other things, to a customary non-disclosure agreement governing the exchange of confidential information. The Confidentiality Agreement previously had a termination date of July 15, 2018.

On August 8, 2017, BSPI and the Issuer entered into another Standstill Agreement (the “Second Standstill Agreement”). Under the Second Standstill Agreement, BSPI and the Issuer agreed, among other things, to a “standstill provision” in which neither BSPI nor certain of its representatives will, without approval from the Issuer, until August 8, 2018, seek to acquire any of the Issuer’s securities, a substantial portion of the Issuer’s assets or otherwise seek to control or influence management of the Issuer, or the Issuer’s board of directors, or assist or encourage any third parties to do the same. The foregoing description of the Second Standstill Agreement is qualified in its entirety by reference to the full text of the Second Standstill Agreement, which is attached as Exhibit 1 hereto.

Griffon Corp Institutional Sentiment

Filings show 128 investors own Griffon Corp. The ownership in Q3 2015 is high, at 92.78 % of the outstanding shares. This is increased by 7197803. 43848993 were owned by these investors. 15 funds opened new Griffon Corp stakes, 36 increased positions. There were 20 that closed positions and 52 reduced them.

Wealthtrust Axiom Llc is an 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 its portfolio for 435241 shares. Further, Fourpoints Investment Managers Sas reported stake worth 0.21% of its portfolio. The NY Gamco Investors Inc Et Al owns 6264041 shares. Griffon Corp is 0.65% of its 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.

Goldman Sachs Group Inc website.

The stock decreased 2.55% or $0.5 during the last trading session, reaching $19.1. About 82,913 shares traded. Griffon Corporation (NYSE:GFF) has risen 33.37% since August 11, 2016 and is uptrending. It has outperformed by 16.67% the S&P500.

Griffon Corporation is a management and holding firm that conducts business through its subsidiaries. The company has market cap of $902.60 million. The Firm operates through three divisions: Home & Building Products , Telephonics Corporation (Telephonics) and Clopay Plastic Products Company, Inc. (PPC). It has a 23.75 P/E ratio. The HBP segment consists of two companies: The AMES Companies, Inc. (AMES) and Clopay Building Products Company, Inc. (CBP).

More notable recent Griffon Corporation (NYSE:GFF) news were published by: Businesswire.com which released: “Griffon Corporation Announces Settlement Terms for Convertible Notes Due …” on July 14, 2016, also Prnewswire.com with their article: “President Donald J. Trump Marks 100th Day in Office with Visit to AMES” published on May 02, 2017, Businesswire.com published: “Griffon Corporation Schedules Conference Call To Discuss Third Quarter 2017 …” on July 26, 2017. More interesting news about Griffon Corporation (NYSE:GFF) were released by: Moodys.com and their article: “Moody’s says Griffon’s Upsizing of Revolving Credit Facility is a Moderate …” published on March 23, 2016 as well as Prnewswire.com‘s news article titled: “Telephonics Awarded ARPDD Retrofit Program” with publication date: June 21, 2017.

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