Griffon (NYSE:GFF) SVP Sells $1,431,600.00 in Stock

by · The Cerbat Gem

Griffon Corporation (NYSE:GFFGet Free Report) SVP Seth Kaplan sold 15,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $95.44, for a total value of $1,431,600.00. Following the transaction, the senior vice president owned 119,747 shares of the company’s stock, valued at approximately $11,428,653.68. This represents a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Griffon Trading Up 0.2%

NYSE GFF traded up $0.22 during trading hours on Wednesday, reaching $93.86. The company had a trading volume of 599,511 shares, compared to its average volume of 312,128. Griffon Corporation has a 1-year low of $63.92 and a 1-year high of $97.58. The stock has a market capitalization of $4.37 billion, a P/E ratio of 102.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.33. The stock has a 50-day moving average of $79.80 and a 200 day moving average of $76.86. The company has a current ratio of 2.55, a quick ratio of 1.27 and a debt-to-equity ratio of 12.36.

Griffon (NYSE:GFFGet Free Report) last issued its quarterly earnings data on Thursday, February 5th. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The firm had revenue of $649.09 million for the quarter, compared to analyst estimates of $618.35 million. During the same period in the prior year, the business posted $1.39 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Friday, February 27th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Griffon’s dividend payout ratio is currently 95.65%.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Robert W. Baird set a $108.00 price target on shares of Griffon in a research report on Friday, February 6th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. CJS Securities upgraded Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Stephens raised their target price on shares of Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wall Street Zen raised shares of Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Griffon currently has a consensus rating of “Buy” and a consensus target price of $101.80.

Read Our Latest Analysis on GFF

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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