Griffon (NYSE:GFF) COO Sells 4,726 Shares

by · The Cerbat Gem

Griffon Corporation (NYSE:GFF – Get Free Report) COO Robert Mehmel sold 4,726 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $95.46, for a total transaction of $451,143.96. Following the transaction, the chief operating officer directly owned 798,225 shares in the company, valued at approximately $76,198,558.50. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Price Performance

Shares of GFF stock traded up $0.65 on Friday, reaching $96.56. 1,269,602 shares of the company were exchanged, compared to its average volume of 357,846. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $97.70. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. The business has a 50-day moving average price of $88.60 and a 200 day moving average price of $82.71. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 742.86 and a beta of 1.42.

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

Griffon Announces Dividend

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

Analysts Set New Price Targets

GFF has been the topic of a number of research reports. Weiss Ratings lowered Griffon from a “hold (c)” rating to a “hold (c-)” rating in a 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 raised 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 price objective on shares of Griffon in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.00.

Get Our Latest Stock Report on GFF

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Griffon by 41.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,002,513 shares of the conglomerate’s stock valued at $73,835,000 after purchasing an additional 293,278 shares during the period. SEB Asset Management AB acquired a new position in Griffon in the 1st quarter valued at about $21,070,000. Voss Capital LP grew its stake in shares of Griffon by 14.7% in the 4th quarter. Voss Capital LP now owns 1,760,000 shares of the conglomerate’s stock valued at $129,624,000 after buying an additional 225,000 shares during the period. Millennium Management LLC grew its stake in shares of Griffon by 166.4% in the 3rd quarter. Millennium Management LLC now owns 324,553 shares of the conglomerate’s stock valued at $24,715,000 after buying an additional 202,714 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Griffon by 255.2% during the 1st quarter. Janus Henderson Group PLC now owns 241,733 shares of the conglomerate’s stock worth $17,570,000 after buying an additional 173,682 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

About Griffon

(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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