Griffon (NYSE:GFF) COO Sells $523,585.18 in Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 5,501 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $95.18, for a total value of $523,585.18. Following the sale, the chief operating officer directly owned 809,788 shares in the company, valued at approximately $77,075,621.84. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Up 2.7%

Shares of NYSE:GFF opened at $91.21 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $97.58. The business has a 50 day moving average of $87.28 and a two-hundred day moving average of $82.06. The company has a market capitalization of $4.18 billion, a PE ratio of 701.69 and a beta of 1.42.

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

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Griffon’s payout ratio is presently 676.92%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Robert W. Baird set a $115.00 price objective on Griffon in a research report on Friday, May 8th. One investment 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.00.

Institutional Trading of Griffon

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

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.