Griffon Co. (NYSE:GFF) CEO Sells $6,707,000.00 in Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the completion of the sale, the chief executive officer now owns 2,500,746 shares of the company’s stock, valued at approximately $167,725,034.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Griffon Trading Down 4.0 %

Shares of Griffon stock opened at $64.15 on Friday. Griffon Co. has a 12-month low of $35.88 and a 12-month high of $77.99. The company has a current ratio of 2.78, a quick ratio of 1.56 and a debt-to-equity ratio of 7.80. The stock has a market cap of $3.18 billion, a PE ratio of 16.93 and a beta of 1.33. The company has a 50-day moving average of $67.70 and a two-hundred day moving average of $64.68.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, May 8th. The conglomerate reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.51. Griffon had a net margin of 7.48% and a return on equity of 90.02%. The business had revenue of $672.88 million during the quarter, compared to analysts’ expectations of $625.22 million. During the same period last year, the company posted $1.21 EPS. The company’s revenue was down 5.4% on a year-over-year basis. On average, research analysts anticipate that Griffon Co. will post 5 EPS for the current fiscal year.

Griffon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. Griffon’s dividend payout ratio (DPR) is 15.83%.

Institutional Trading of Griffon

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Trexquant Investment LP acquired a new position in shares of Griffon in the 4th quarter valued at $787,000. Pacer Advisors Inc. lifted its holdings in shares of Griffon by 22.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,598,353 shares of the conglomerate’s stock valued at $97,420,000 after acquiring an additional 289,208 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Griffon during the 4th quarter valued at $1,830,000. Vanguard Group Inc. lifted its holdings in shares of Griffon by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,952,411 shares of the conglomerate’s stock valued at $236,132,000 after acquiring an additional 77,058 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in Griffon during the 4th quarter worth $4,206,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GFF shares. Robert W. Baird raised their price objective on shares of Griffon from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average price target of $81.00.

Griffon Company Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.