Kevin Sullivan Sells 3,500 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) Director Kevin Sullivan sold 3,500 shares of Griffon stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $105.59, for a total value of $369,565.00. Following the completion of the transaction, the director directly owned 40,602 shares in the company, valued at approximately $4,287,165.18. This represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Griffon Stock Performance

Shares of GFF stock traded down $1.80 during trading hours on Friday, reaching $104.17. 260,298 shares of the company’s stock were exchanged, compared to its average volume of 352,680. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $108.57. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. The stock has a market capitalization of $4.72 billion, a P/E ratio of 26.57 and a beta of 1.44. The business has a fifty day moving average price of $93.51 and a 200-day moving average price of $86.69.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.17. The business 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%. Griffon’s quarterly revenue was down 21.5% on a year-over-year basis. During the same quarter last year, the company posted $1.50 earnings per share. Analysts predict that Griffon Corporation will post 5.41 EPS for the current fiscal year.

Griffon Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stephens upped their price objective on shares of Griffon from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research upgraded Griffon from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Robert W. Baird set a $125.00 price target on Griffon in a report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Griffon in a research report on Friday, August 7th. Finally, Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $122.50.

Hedge Funds Weigh In On Griffon

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. boosted its position in shares of Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Griffon in the first quarter worth about $29,000. Hilton Head Capital Partners LLC bought a new position in Griffon during the fourth quarter worth about $34,000. Caitong International Asset Management Co. Ltd lifted its stake in Griffon by 362.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after purchasing an additional 388 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new stake in Griffon during the second quarter valued at approximately $37,000. 73.22% of the stock is owned by institutional investors.

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.