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.
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
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