Insider Selling: Griffon (NYSE:GFF) CEO Sells 100,000 Shares of Stock

Griffon Corporation (NYSE:GFF) CEO Ronald Kramer sold 100,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $94.92, for a total value of $9,492,000.00. Following the sale, the chief executive officer owned 1,784,297 shares in the company, valued at $169,365,471.24. The trade was a 5.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Griffon Stock Performance

NYSE:GFF traded up $0.96 on Monday, hitting $94.68. The company’s stock had a trading volume of 241,383 shares, compared to its average volume of 344,375. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58. The stock has a fifty day moving average of $85.65 and a two-hundred day moving average of $81.58. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. The firm has a market capitalization of $4.34 billion, a P/E ratio of 728.36 and a beta of 1.42.

Griffon (NYSE:GFF) last posted its earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The company had revenue of $421.86 million for the quarter, compared to the consensus estimate of $414.63 million. During the same quarter in the prior year, the business earned $1.23 earnings per share. The firm’s revenue for the quarter was down 31.0% on a year-over-year basis. Research analysts predict that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a yield of 0.9%. Griffon’s dividend payout ratio is currently 676.92%.

Analyst Ratings Changes

A number of research analysts have recently commented on GFF shares. Wall Street Zen cut Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings downgraded Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 target price on Griffon in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.00.

Institutional Trading of Griffon

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in Griffon by 20.2% in the first quarter. Royal Bank of Canada now owns 94,955 shares of the conglomerate’s stock worth $6,790,000 after purchasing an additional 15,925 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Griffon by 9.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate’s stock valued at $1,676,000 after purchasing an additional 2,047 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Griffon during the 1st quarter worth $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Griffon by 21.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,035 shares of the conglomerate’s stock worth $6,080,000 after acquiring an additional 14,764 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Griffon during the 1st quarter valued at $57,000. 73.22% of the stock is owned by institutional investors.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.