Griffon (NYSE:GFF) COO Sells 3,018 Shares of Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,018 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $95.39, for a total value of $287,887.02. Following the completion of the sale, the chief operating officer directly owned 803,498 shares in the company, valued at approximately $76,645,674.22. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Up 2.7%

NYSE:GFF traded up $2.37 during trading hours on Thursday, reaching $91.21. 752,431 shares of the stock were exchanged, compared to its average volume of 350,488. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $97.58. The business has a 50-day moving average of $86.91 and a two-hundred day moving average of $81.94. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 701.69 and a beta of 1.42. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77.

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

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 29th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 29th. Griffon’s dividend payout ratio (DPR) is 676.92%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings lowered shares of 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 price target on shares of Griffon in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GFF. Hantz Financial Services Inc. grew its holdings in Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Griffon in the 1st quarter valued at $29,000. Huntington National Bank lifted its position in shares of Griffon by 645.0% during the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Griffon during the 4th quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Griffon by 362.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after purchasing an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

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.