Griffon (NYSE:GFF) Director Sells 3,070 Shares

by · The Markets Daily

Griffon Corporation (NYSE:GFF – Get Free Report) Director James Sight sold 3,070 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $96.15, for a total transaction of $295,180.50. Following the sale, the director directly owned 13,872 shares in the company, valued at approximately $1,333,792.80. This represents a 18.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Griffon Trading Up 0.2%

Shares of NYSE:GFF traded up $0.22 during midday trading on Wednesday, hitting $93.86. The company had a trading volume of 599,511 shares, compared to its average volume of 312,128. 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 Corporation has a 12 month low of $63.92 and a 12 month high of $97.58. The firm has a fifty day simple moving average of $79.80 and a 200 day simple moving average of $76.86. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 102.02, a PEG ratio of 1.45 and a beta of 1.33.

Griffon (NYSE:GFF – Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The conglomerate reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. Griffon had a return on equity of 228.83% and a net margin of 1.76%.The business had revenue of $649.09 million for the quarter, compared to analysts’ expectations of $618.35 million. During the same quarter in the previous year, the business posted $1.39 EPS. Griffon’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Friday, February 27th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 27th. Griffon’s payout ratio is currently 95.65%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Stephens raised their price objective on shares of Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday. CJS Securities upgraded shares of Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Robert W. Baird set a $108.00 price target on shares of Griffon in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $101.80.

Read Our Latest Report on Griffon

Institutional Investors Weigh In On Griffon

A number of institutional investors and hedge funds have recently made changes to their positions in GFF. Hantz Financial Services Inc. boosted its position in shares of Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Griffon by 151.7% in the 2nd 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 increased its holdings in shares of Griffon by 8,720.0% in the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after buying an additional 436 shares during the period. Huntington National Bank increased its stake in Griffon by 645.0% in 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 period. Finally, Hilton Head Capital Partners LLC bought a new stake in Griffon during the 4th quarter valued at $34,000. Hedge funds and other institutional investors 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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