Seth L. Kaplan Purchases 4,500 Shares of Griffon Co. (GFF) Stock

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Griffon Co. (NYSE:GFF) SVP Seth L. Kaplan bought 4,500 shares of the stock in a transaction dated Tuesday, December 4th. The stock was purchased at an average cost of $11.62 per share, for a total transaction of $52,290.00. Following the acquisition, the senior vice president now owns 142,900 shares of the company’s stock, valued at $1,660,498. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GFF stock opened at $11.19 on Friday. The stock has a market cap of $532.57 million, a P/E ratio of 15.14 and a beta of 1.58. Griffon Co. has a 52 week low of $10.15 and a 52 week high of $23.55. The company has a current ratio of 2.32, a quick ratio of 1.31 and a debt-to-equity ratio of 2.34.

Griffon (NYSE:GFF) last released its quarterly earnings data on Wednesday, November 14th. The conglomerate reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $545.51 million for the quarter, compared to the consensus estimate of $590.58 million. Griffon had a net margin of 6.35% and a return on equity of 6.94%. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, equities analysts predict that Griffon Co. will post 0.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, November 29th will be issued a dividend of $0.0725 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $0.29 dividend on an annualized basis and a yield of 2.59%. This is an increase from Griffon’s previous quarterly dividend of $0.07. Griffon’s payout ratio is currently 38.16%.

Several analysts have recently weighed in on GFF shares. Sidoti lowered their target price on shares of Griffon from $26.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, November 15th. Zacks Investment Research downgraded shares of Griffon from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Deutsche Bank started coverage on shares of Griffon in a report on Friday, September 21st. They issued a “hold” rating and a $18.00 target price on the stock. Robert W. Baird started coverage on shares of Griffon in a report on Thursday, September 13th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Griffon in a report on Tuesday, October 30th. They issued an “underweight” rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.50.

A number of hedge funds have recently added to or reduced their stakes in GFF. Principal Financial Group Inc. boosted its holdings in Griffon by 3.0% during the first quarter. Principal Financial Group Inc. now owns 232,851 shares of the conglomerate’s stock worth $4,250,000 after buying an additional 6,704 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Griffon during the second quarter worth about $150,000. Piedmont Investment Advisors LLC purchased a new stake in Griffon during the second quarter worth about $139,000. Comerica Bank boosted its holdings in Griffon by 12.2% during the second quarter. Comerica Bank now owns 35,568 shares of the conglomerate’s stock worth $658,000 after buying an additional 3,871 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Griffon by 106.7% during the second quarter. Wells Fargo & Company MN now owns 547,844 shares of the conglomerate’s stock worth $9,751,000 after buying an additional 282,845 shares in the last quarter. 66.48% of the stock is currently owned by hedge funds and other institutional investors.

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Griffon Company Profile

Griffon Corporation, through its wholly-owned subsidiaries, engages in home and building, telephonics, and plastic products businesses worldwide. Its Home & Building Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; and residential and commercial garage doors to professional dealers and home center retail chains.

See Also: Diversification

Insider Buying and Selling by Quarter for Griffon (NYSE:GFF)

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