Robert Mehmel Sells 6,639 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 6,639 shares of Griffon stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $104.34, for a total value of $692,713.26. Following the transaction, the chief operating officer directly owned 726,272 shares in the company, valued at approximately $75,779,220.48. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Price Performance

NYSE GFF opened at $104.63 on Thursday. The company has a 50 day simple moving average of $93.12 and a 200-day simple moving average of $86.53. The company has a debt-to-equity ratio of 9.75, a current ratio of 2.41 and a quick ratio of 1.79. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 26.69 and a beta of 1.44. Griffon Corporation has a 52-week low of $65.01 and a 52-week high of $108.57.

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

Griffon Announces Dividend

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

Institutional Investors Weigh In On Griffon

A number of large investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its holdings in Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after buying an additional 211 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Griffon during the 1st quarter worth about $29,000. Hilton Head Capital Partners LLC acquired a new position in shares of Griffon during the 4th quarter valued at about $34,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Griffon by 362.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after acquiring an additional 388 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of Griffon in the 2nd quarter valued at approximately $37,000. 73.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GFF. Zacks Research upgraded Griffon from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Griffon in a research report on Friday, August 7th. Robert W. Baird set a $125.00 price target on Griffon in a research note on Thursday, August 6th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Stephens boosted their price target on Griffon from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Griffon has an average rating of “Buy” and a consensus price target 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.