Griffon Co. (NYSE:GFF) COO Robert F. Mehmel Sells 9,892 Shares

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 9,892 shares of Griffon stock in a transaction on Monday, September 16th. The stock was sold at an average price of $66.69, for a total transaction of $659,697.48. Following the completion of the transaction, the chief operating officer now owns 787,914 shares in the company, valued at approximately $52,545,984.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Griffon Stock Performance

Shares of GFF traded up $0.47 on Tuesday, reaching $67.61. 375,638 shares of the stock traded hands, compared to its average volume of 431,479. The stock’s 50-day moving average price is $66.02 and its 200-day moving average price is $67.37. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 17.84 and a beta of 1.29. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99.

Griffon (NYSE:GFF) last announced 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). The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 EPS. Equities analysts forecast that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Announces Dividend

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 is Wednesday, August 28th. This represents a $0.60 annualized dividend and a yield of 0.89%. Griffon’s dividend payout ratio is currently 15.83%.

Institutional Investors Weigh In On Griffon

Several institutional investors and hedge funds have recently made changes to their positions in GFF. LSV Asset Management boosted its position in Griffon by 486.0% in the first quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock valued at $66,834,000 after buying an additional 755,773 shares in the last quarter. Norges Bank acquired a new position in Griffon in the fourth quarter worth $20,531,000. Lodge Hill Capital LLC increased its stake in shares of Griffon by 190.3% in the second quarter. Lodge Hill Capital LLC now owns 251,700 shares of the conglomerate’s stock valued at $16,074,000 after buying an additional 165,000 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Griffon by 112.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 283,800 shares of the conglomerate’s stock valued at $18,123,000 after buying an additional 150,000 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Griffon during the 2nd quarter worth about $7,433,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GFF. StockNews.com cut Griffon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Stephens reissued an “overweight” rating and issued a $85.00 price objective on shares of Griffon in a research report on Tuesday, September 10th. Finally, Robert W. Baird dropped their target price on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average 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.