Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer Sells 100,000 Shares of Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.26, for a total value of $6,226,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,260,746 shares of the company’s stock, valued at $140,754,045.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Griffon Stock Up 3.1 %

GFF opened at $66.82 on Friday. The stock has a fifty day moving average of $65.93 and a 200-day moving average of $67.43. The company has a market capitalization of $3.31 billion, a P/E ratio of 17.63 and a beta of 1.29. Griffon Co. has a fifty-two week low of $38.33 and a fifty-two week high of $77.99. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $688.94 million. During the same period in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities analysts expect that Griffon Co. will post 4.87 EPS for the current year.

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.90%. Griffon’s dividend payout ratio (DPR) is presently 15.83%.

Institutional Trading of Griffon

A number of institutional investors have recently modified their holdings of the stock. Scarborough Advisors LLC acquired a new position in Griffon in the fourth quarter valued at about $35,000. Quarry LP raised its position in shares of Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after buying an additional 386 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Griffon during the 2nd quarter worth approximately $55,000. GAMMA Investing LLC boosted its position in shares of Griffon by 65.1% during the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after acquiring an additional 332 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new position in Griffon in the first quarter valued at approximately $65,000. 73.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GFF shares. Stephens reaffirmed an “overweight” rating and set a $85.00 price target on shares of Griffon in a report on Tuesday. Robert W. Baird cut their target price on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com lowered shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $81.50.

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.