Ronald J. Kramer Sells 300 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 300 shares of Griffon stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $70.07, for a total value of $21,021.00. Following the completion of the sale, the chief executive officer now owns 2,176,199 shares of the company’s stock, valued at approximately $152,486,263.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Griffon Stock Performance

Shares of Griffon stock opened at $69.18 on Friday. The firm has a market capitalization of $3.43 billion, a P/E ratio of 18.25 and a beta of 1.29. The business’s fifty day simple moving average is $65.99 and its 200 day simple moving average is $67.35. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99.

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

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. Griffon’s dividend payout ratio (DPR) is currently 15.83%.

Wall Street Analysts Forecast Growth

GFF has been the topic of several research reports. StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Friday. Stephens restated an “overweight” rating and issued a $85.00 target price on shares of Griffon in a report on Tuesday, September 10th. Finally, Robert W. Baird dropped their target price on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $81.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Griffon by 46.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 10,650 shares of the conglomerate’s stock worth $649,000 after acquiring an additional 3,380 shares during the last quarter. Seven Eight Capital LP purchased a new position in Griffon during the 4th quarter valued at $1,830,000. Lighthouse Investment Partners LLC purchased a new position in Griffon during the 4th quarter valued at $4,206,000. Sage Rock Capital Management LP purchased a new stake in shares of Griffon in the 4th quarter worth about $98,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Griffon in the 4th quarter worth about $35,000. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

About Griffon

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.