Seth Kaplan Sells 15,000 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) SVP Seth Kaplan sold 15,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $95.44, for a total transaction of $1,431,600.00. Following the transaction, the senior vice president owned 119,747 shares of the company’s stock, valued at approximately $11,428,653.68. The trade was a 11.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Griffon Price Performance

Shares of Griffon stock traded up $0.22 during trading on Wednesday, reaching $93.86. The company’s stock had a trading volume of 599,511 shares, compared to its average volume of 312,128. The business has a 50 day moving average price of $79.80 and a 200-day moving average price of $76.86. Griffon Corporation has a 12-month low of $63.92 and a 12-month high of $97.58. The company has a market capitalization of $4.37 billion, a P/E ratio of 102.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.33. The company has a quick ratio of 1.27, a current ratio of 2.55 and a debt-to-equity ratio of 12.36.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $649.09 million during the quarter, compared to the consensus estimate of $618.35 million. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. As a group, sell-side analysts anticipate that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Friday, February 27th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, February 27th. This represents a $0.88 dividend on an annualized basis and a yield of 0.9%. Griffon’s payout ratio is presently 95.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its stake in shares of 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 acquiring an additional 211 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Griffon by 151.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 264 shares in the last quarter. IFP Advisors Inc raised its position in Griffon by 8,720.0% in the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 436 shares during the period. Huntington National Bank lifted its stake in shares of Griffon by 645.0% during the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 387 shares in the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Griffon during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GFF has been the subject of several research reports. CJS Securities upgraded Griffon to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird set a $108.00 price target on Griffon in a report on Friday, February 6th. Wall Street Zen upgraded Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Finally, Stephens upped their target price on shares of Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Griffon presently has an average rating of “Buy” and a consensus target price of $101.80.

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.