Insider Selling: Griffon Co. (NYSE:GFF) CEO Sells 67,164 Shares of Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 67,164 shares of Griffon stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $70.08, for a total value of $4,706,853.12. Following the completion of the transaction, the chief executive officer now directly owns 2,102,503 shares in the company, valued at approximately $147,343,410.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Griffon Stock Up 18.2 %

Shares of NYSE:GFF traded up $12.39 during midday trading on Wednesday, hitting $80.51. 1,814,136 shares of the company’s stock were exchanged, compared to its average volume of 432,144. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. Griffon Co. has a 12 month low of $44.03 and a 12 month high of $80.85. The company has a market cap of $3.97 billion, a PE ratio of 20.92 and a beta of 1.31. The stock has a 50 day moving average price of $66.68 and a 200-day moving average price of $66.60.

Griffon Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from Griffon’s previous quarterly dividend of $0.15. Griffon’s dividend payout ratio (DPR) is currently 16.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird upped their price target on shares of Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Stephens reiterated an “overweight” rating and issued a $85.00 target price on shares of Griffon in a report on Tuesday, September 10th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Griffon currently has a consensus rating of “Buy” and a consensus price target of $83.50.

Institutional Investors Weigh In On Griffon

Several institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its holdings in Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after acquiring an additional 386 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Griffon during the second quarter valued at about $55,000. Plato Investment Management Ltd purchased a new position in Griffon during the first quarter worth about $65,000. DekaBank Deutsche Girozentrale bought a new stake in Griffon in the 2nd quarter worth about $70,000. Finally, GAMMA Investing LLC grew its position in Griffon by 56.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock worth $79,000 after purchasing an additional 411 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

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.