Griffon (NYSE:GFF) Director Sells $318,360.00 in Stock

Griffon Corporation (NYSE:GFF) Director Cheryl Turnbull sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $106.12, for a total value of $318,360.00. Following the completion of the sale, the director owned 30,039 shares in the company, valued at approximately $3,187,738.68. This represents a 9.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Griffon Price Performance

Shares of NYSE:GFF opened at $104.17 on Monday. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $108.57. The company has a current ratio of 2.41, a quick ratio of 1.79 and a debt-to-equity ratio of 9.75. The company has a market cap of $4.72 billion, a PE ratio of 26.57 and a beta of 1.44. The company’s 50 day moving average is $93.89 and its 200 day moving average is $86.83.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 EPS for the quarter, beating the consensus estimate of $1.34 by $0.17. Griffon had a net margin of 8.08% and a return on equity of 249.31%. The business had revenue of $481.37 million during the quarter, compared to analysts’ expectations of $457.70 million. During the same period in the previous year, the business posted $1.50 EPS. The business’s quarterly revenue was down 21.5% compared to the same quarter last year. On average, sell-side analysts forecast that Griffon Corporation will post 5.41 EPS for the current year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Griffon’s dividend payout ratio (DPR) is 22.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GFF shares. Stephens increased their price target on Griffon from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Zacks Research raised Griffon from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $125.00 target price on Griffon in a report on Thursday, August 6th. Wall Street Zen cut Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Griffon in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Griffon has a consensus rating of “Buy” and a consensus price target of $122.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in shares of Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 211 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of Griffon during the 1st quarter valued at about $29,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Griffon during the 4th quarter valued at about $34,000. Caitong International Asset Management Co. Ltd raised its holdings in Griffon by 362.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after purchasing an additional 388 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in Griffon in the 2nd quarter worth about $37,000. 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.