Griffon Corporation $GFF Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Griffon Corporation (NYSE:GFF) by 62.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,958 shares of the conglomerate’s stock after selling 21,938 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Griffon were worth $942,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after buying an additional 211 shares during the period. Scarborough Advisors LLC acquired a new stake in Griffon in the first quarter valued at approximately $29,000. Hilton Head Capital Partners LLC purchased a new position in Griffon in the fourth quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd lifted its stake in Griffon by 362.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after acquiring an additional 388 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in Griffon during the 2nd quarter worth approximately $37,000. 73.22% of the stock is owned by institutional investors and hedge funds.

Griffon Price Performance

GFF stock opened at $86.45 on Monday. The business has a 50 day moving average price of $90.67 and a 200 day moving average price of $85.54. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 665.07 and a beta of 1.41. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $98.36.

Griffon (NYSE:GFF) last announced its quarterly 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 net margin of 0.31% and a return on equity of 298.42%. The company had revenue of $421.86 million for the quarter, compared to analyst estimates of $414.63 million. During the same period in the prior year, the firm posted $1.23 earnings per share. The firm’s revenue was down 31.0% on a year-over-year basis. Equities research analysts anticipate that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th were issued a $0.22 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Griffon’s dividend payout ratio is presently 676.92%.

Insider Buying and Selling at Griffon

In related news, COO Robert F. Mehmel sold 7,873 shares of Griffon stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $96.02, for a total transaction of $755,965.46. Following the sale, the chief operating officer directly owned 790,352 shares in the company, valued at $75,889,599.04. This trade represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald J. Kramer sold 100,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $94.92, for a total transaction of $9,492,000.00. Following the completion of the sale, the chief executive officer directly owned 1,784,297 shares of the company’s stock, valued at approximately $169,365,471.24. This trade represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 129,389 shares of company stock valued at $12,309,525. Company insiders own 10.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings downgraded shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. 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 upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Robert W. Baird set a $115.00 target price on Griffon in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.00.

Griffon Profile

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.