Griffon (NYSE:GFF) Director Sells $295,180.50 in Stock

by · The Cerbat Gem

Griffon Corporation (NYSE:GFFGet Free Report) Director James Sight sold 3,070 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $96.15, for a total transaction of $295,180.50. Following the completion of the transaction, the director owned 13,872 shares in the company, valued at $1,333,792.80. The trade was a 18.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Griffon Price Performance

Shares of NYSE GFF opened at $93.52 on Friday. The company has a debt-to-equity ratio of 12.36, a current ratio of 2.55 and a quick ratio of 1.27. Griffon Corporation has a 1-year low of $63.92 and a 1-year high of $97.58. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 101.66, a PEG ratio of 1.53 and a beta of 1.33. The business has a 50-day moving average of $80.95 and a 200-day moving average of $77.16.

Griffon (NYSE:GFFGet Free Report) last released its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The business had revenue of $649.09 million during the quarter, compared to analyst estimates of $618.35 million. During the same period last year, the business earned $1.39 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Friday, February 27th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, February 27th. This represents a $0.88 annualized dividend and a yield of 0.9%. Griffon’s dividend payout ratio (DPR) is 95.65%.

Analysts Set New Price Targets

GFF has been the topic of several recent research reports. Wall Street Zen raised Griffon from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Stephens raised their target price on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Robert W. Baird set a $108.00 price objective on shares of Griffon in a report on Friday, February 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Griffon in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $103.50.

Check Out Our Latest Analysis on Griffon

Institutional Trading of Griffon

A number of hedge funds and other institutional investors have recently made changes to their positions in GFF. Hantz Financial Services Inc. boosted its holdings in shares of Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Griffon by 151.7% in the second quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 264 shares during the period. IFP Advisors Inc boosted its stake in Griffon by 8,720.0% during the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 436 shares in the last quarter. Huntington National Bank increased 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 valued at $34,000 after purchasing an additional 387 shares during the period. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Griffon in the 4th quarter worth $34,000. 73.22% of the stock is currently owned by institutional investors.

Griffon Company Profile

(Get Free Report)

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.

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