Do Hedge Funds and Insiders Love Griffon Corporation (GFF)?

Page 1 of 2

Is Griffon Corporation (NYSE:GFF) a marvelous investment right now? Hedge funds are taking an optimistic view. The number of long hedge fund bets rose by 4 in recent months.

Griffon Corporation (NYSE:GFF)

To most market participants, hedge funds are seen as worthless, outdated financial vehicles of years past. While there are greater than 8000 funds in operation at present, we choose to focus on the masters of this club, about 450 funds. It is estimated that this group oversees the majority of the hedge fund industry’s total asset base, and by tracking their best stock picks, we have found a number of investment strategies that have historically outpaced Mr. Market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outperformed the S&P 500 index by 23.3 percentage points in 8 months (see all of our picks from August).

Equally as integral, bullish insider trading sentiment is another way to parse down the marketplace. Obviously, there are many stimuli for an upper level exec to sell shares of his or her company, but only one, very obvious reason why they would buy. Many empirical studies have demonstrated the impressive potential of this tactic if shareholders understand where to look (learn more here).

With all of this in mind, we’re going to take a gander at the latest action regarding Griffon Corporation (NYSE:GFF).

What does the smart money think about Griffon Corporation (NYSE:GFF)?

In preparation for this quarter, a total of 13 of the hedge funds we track were long in this stock, a change of 44% from one quarter earlier. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings meaningfully.

When looking at the hedgies we track, GAMCO Investors, managed by Mario Gabelli, holds the biggest position in Griffon Corporation (NYSE:GFF). GAMCO Investors has a $76.3 million position in the stock, comprising 0.5% of its 13F portfolio. On GAMCO Investors’s heels is Pzena Investment Management, managed by Richard S. Pzena, which held a $30.1 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Other peers with similar optimism include Richard S. Meisenberg’s ACK Asset Management, D. E. Shaw’s D E Shaw and Doug Silverman and Alexander Klabin’s Senator Investment Group.

Now, specific money managers were breaking ground themselves. ACK Asset Management, managed by Richard S. Meisenberg, assembled the most valuable position in Griffon Corporation (NYSE:GFF). ACK Asset Management had 4.8 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $0.3 million position during the quarter. The following funds were also among the new GFF investors: Israel Englander’s Millennium Management, Ken Gray and Steve Walsh’s Bryn Mawr Capital, and Paul Tudor Jones’s Tudor Investment Corp.

What have insiders been doing with Griffon Corporation (NYSE:GFF)?

Insider purchases made by high-level executives is most useful when the company in question has experienced transactions within the past half-year. Over the last half-year time period, Griffon Corporation (NYSE:GFF) has experienced 1 unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to Griffon Corporation (NYSE:GFF). These stocks are Trex Company, Inc. (NYSE:TREX), Apogee Enterprises, Inc. (NASDAQ:APOG), Headwaters Inc (NYSE:HW), Universal Forest Products, Inc. (NASDAQ:UFPI), and AAON, Inc. (NASDAQ:AAON). This group of stocks belong to the general building materials industry and their market caps are closest to GFF’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!