Griffon (NYSE:GFF) COO Sells $407,268.16 in Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 4,166 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $97.76, for a total value of $407,268.16. Following the completion of the transaction, the chief operating officer owned 785,900 shares in the company, valued at $76,829,584. This represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Up 0.4%

Shares of Griffon stock traded up $0.37 during trading on Thursday, reaching $92.74. 329,835 shares of the company were exchanged, compared to its average volume of 357,674. The business has a 50-day moving average price of $89.36 and a 200-day moving average price of $83.30. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 713.45 and a beta of 1.41. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $98.36.

Griffon (NYSE:GFF) last released 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 return on equity of 298.42% and a net margin of 0.31%.The firm had revenue of $421.86 million for the quarter, compared to analyst estimates of $414.63 million. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was down 31.0% on a year-over-year basis. Sell-side analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 29th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, May 29th. Griffon’s dividend payout ratio (DPR) is currently 676.92%.

Analyst Upgrades and Downgrades

GFF has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 price objective on Griffon in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Institutional Investors Weigh In On Griffon

Several institutional investors have recently added to or reduced their stakes in GFF. Hantz Financial Services Inc. boosted its stake in Griffon by 149.6% in the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 211 shares during the period. Scarborough Advisors LLC bought a new position in Griffon during the 1st quarter worth about $29,000. Huntington National Bank increased its holdings 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 purchasing an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Griffon in the 4th quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Griffon by 362.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 388 shares during the period. 73.22% of the stock is owned by institutional investors.

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.