Griffon (NYSE:GFF) Director Sells $369,565.00 in Stock

Griffon Corporation (NYSE:GFF) Director Kevin Sullivan sold 3,500 shares of Griffon stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $105.59, for a total value of $369,565.00. Following the transaction, the director owned 40,602 shares of the company’s stock, valued at $4,287,165.18. The trade was a 7.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Griffon Trading Up 0.0%

NYSE GFF opened at $104.17 on Monday. Griffon Corporation has a 12 month low of $65.01 and a 12 month high of $108.57. The stock has a market cap of $4.72 billion, a P/E ratio of 26.57 and a beta of 1.44. The stock’s fifty day moving average price is $93.89 and its 200-day moving average price is $86.83. The company has a current ratio of 2.41, a quick ratio of 1.79 and a debt-to-equity ratio of 9.75.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.17. The firm had revenue of $481.37 million during the quarter, compared to the consensus estimate of $457.70 million. Griffon had a return on equity of 249.31% and a net margin of 8.08%.The company’s revenue was down 21.5% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. As a group, equities analysts forecast that Griffon Corporation will post 5.41 EPS for the current fiscal year.

Griffon Announces Dividend

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

Hedge Funds Weigh In On Griffon

A number of institutional investors and hedge funds have recently modified their holdings of GFF. Moran Wealth Management LLC raised its holdings in Griffon by 97.4% in the 4th quarter. Moran Wealth Management LLC now owns 52,258 shares of the conglomerate’s stock worth $3,849,000 after purchasing an additional 25,790 shares during the period. Louisiana State Employees Retirement System bought a new stake in Griffon during the first quarter valued at about $1,265,000. SummitTX Capital L.P. increased its position in Griffon by 42.9% in the first quarter. SummitTX Capital L.P. now owns 415,531 shares of the conglomerate’s stock worth $30,201,000 after buying an additional 124,750 shares in the last quarter. OP Asset Management Ltd purchased a new stake in Griffon in the first quarter worth about $1,547,000. Finally, California State Teachers Retirement System raised its stake in shares of Griffon by 29.0% in the first quarter. California State Teachers Retirement System now owns 44,910 shares of the conglomerate’s stock worth $3,264,000 after buying an additional 10,094 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GFF shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Griffon in a research report on Friday, August 7th. Stephens boosted their price target on Griffon from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Robert W. Baird set a $125.00 price objective on Griffon in a research report on Thursday, August 6th. Finally, Zacks Research upgraded Griffon from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Two research 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. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $122.50.

Griffon Company Profile

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.