Griffon (NYSE:GFF) COO Sells $52,167.39 in Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 547 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $95.37, for a total transaction of $52,167.39. Following the completion of the transaction, the chief operating officer owned 802,951 shares of the company’s stock, valued at approximately $76,577,436.87. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Up 2.7%

Shares of GFF traded up $2.37 during mid-day trading on Thursday, reaching $91.21. The company had a trading volume of 752,431 shares, compared to its average volume of 350,488. Griffon Corporation has a 52 week low of $65.01 and a 52 week high of $97.58. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 701.69 and a beta of 1.42. The firm has a 50-day moving average price of $86.91 and a 200 day moving average price of $81.94.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The firm’s quarterly revenue was down 31.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, sell-side analysts forecast that Griffon Corporation will post 5.17 EPS for the current year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 29th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Griffon’s dividend payout ratio is 676.92%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Griffon

A number of hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC lifted its stake in Griffon by 3.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,546 shares of the conglomerate’s stock valued at $261,000 after acquiring an additional 115 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Griffon by 1.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate’s stock worth $759,000 after acquiring an additional 132 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Griffon by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock valued at $658,000 after purchasing an additional 136 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Griffon by 30.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 585 shares of the conglomerate’s stock valued at $43,000 after purchasing an additional 137 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Griffon by 33.0% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

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.