Insider Selling: Griffon (NYSE:GFF) CEO Sells 100,000 Shares of Stock

Griffon Corporation (NYSE:GFF) CEO Ronald Kramer sold 100,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $94.92, for a total transaction of $9,492,000.00. Following the completion of the sale, the chief executive officer owned 1,784,297 shares in the company, valued at approximately $169,365,471.24. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Griffon Stock Up 1.0%

NYSE:GFF traded up $0.96 during mid-day trading on Monday, reaching $94.68. The company’s stock had a trading volume of 241,383 shares, compared to its average volume of 344,375. The stock has a fifty day moving average of $85.65 and a 200-day moving average of $81.58. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $97.58. The firm has a market capitalization of $4.34 billion, a PE ratio of 728.36 and a beta of 1.42. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $421.86 million during the quarter, compared to analyst estimates of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business’s revenue for the quarter was down 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. Equities research analysts forecast that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th will be given a $0.22 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.88 annualized dividend and a dividend yield of 0.9%. Griffon’s dividend payout ratio (DPR) is 676.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GFF. Hantz Financial Services Inc. raised its holdings in Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Griffon in the 1st quarter valued at about $29,000. Huntington National Bank lifted its holdings in Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Griffon in the 4th quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Griffon by 362.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after buying an additional 388 shares in the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GFF. Robert W. Baird set a $115.00 price target on shares of Griffon in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Griffon currently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.