Griffon (NYSE:GFF) COO Robert Mehmel Sells 4,166 Shares of Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 4,166 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $97.76, for a total value of $407,268.16. Following the transaction, the chief operating officer owned 785,900 shares of the company’s stock, valued at approximately $76,829,584. This trade represents a 0.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Up 0.4%

GFF stock opened at $92.74 on Friday. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. The stock has a market capitalization of $4.25 billion, a P/E ratio of 713.45 and a beta of 1.41. The business has a 50-day moving average of $89.41 and a 200-day moving average of $83.41. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $98.36.

Griffon (NYSE:GFF) last announced its earnings results 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 for the quarter, compared to analyst estimates of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.Griffon’s revenue for the quarter was down 31.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 EPS. On average, sell-side analysts anticipate that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.

Griffon Announces Dividend

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

Hedge Funds Weigh In On Griffon

A number of hedge funds and other institutional investors have recently bought and sold shares of GFF. Hantz Financial Services Inc. raised its stake in Griffon by 149.6% in 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 during the period. Scarborough Advisors LLC bought a new position in shares of Griffon during the 1st quarter worth approximately $29,000. Huntington National Bank increased its holdings in shares of Griffon by 645.0% during the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Griffon during the 4th quarter worth approximately $34,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in 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 acquiring an additional 388 shares during the period. Institutional investors own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Robert W. Baird set a $115.00 target price on shares of Griffon in a 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. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.00.

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.