Robert Mehmel Sells 3,018 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,018 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $95.39, for a total transaction of $287,887.02. Following the transaction, the chief operating officer directly owned 803,498 shares of the company’s stock, valued at approximately $76,645,674.22. This represents a 0.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Up 0.1%

Shares of NYSE:GFF opened at $91.21 on Friday. The firm has a fifty day moving average price of $87.59 and a two-hundred day moving average price of $82.12. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 701.69 and a beta of 1.42.

Griffon (NYSE:GFF) last released its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $414.63 million. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was down 31.0% on a year-over-year basis. Analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Griffon

Several institutional investors and hedge funds have recently made changes to their positions in GFF. Fuller & Thaler Asset Management Inc. lifted its stake in Griffon by 41.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,002,513 shares of the conglomerate’s stock worth $73,835,000 after purchasing an additional 293,278 shares during the last quarter. SEB Asset Management AB bought a new position in shares of Griffon during the first quarter valued at about $21,070,000. Voss Capital LP increased its holdings in shares of Griffon by 14.7% in the fourth quarter. Voss Capital LP now owns 1,760,000 shares of the conglomerate’s stock worth $129,624,000 after buying an additional 225,000 shares during the period. Millennium Management LLC lifted its stake in shares of Griffon by 166.4% in the 3rd quarter. Millennium Management LLC now owns 324,553 shares of the conglomerate’s stock valued at $24,715,000 after acquiring an additional 202,714 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Griffon by 255.2% during the 1st quarter. Janus Henderson Group PLC now owns 241,733 shares of the conglomerate’s stock valued at $17,570,000 after acquiring an additional 173,682 shares during the period. 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.