Griffon (NYSE:GFF) COO Robert Mehmel Sells 5,501 Shares of Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 5,501 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $95.18, for a total value of $523,585.18. Following the transaction, the chief operating officer owned 809,788 shares in the company, valued at approximately $77,075,621.84. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Price Performance

Griffon stock opened at $94.17 on Wednesday. The stock’s fifty day moving average price is $86.57 and its two-hundred day moving average price is $81.85. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58. 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 firm has a market cap of $4.32 billion, a PE ratio of 724.46 and a beta of 1.42.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $1.23 EPS. The company’s revenue was down 31.0% on a year-over-year basis. As a group, research analysts expect 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 will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th will be paid 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 is Friday, May 29th. Griffon’s dividend payout ratio is presently 676.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GFF. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Robert W. Baird set a $115.00 price objective on shares of Griffon in a research note on Friday, May 8th. Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a report 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 issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.00.

Institutional Trading of Griffon

Institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its position 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 acquiring an additional 211 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of Griffon during the 1st quarter worth about $29,000. Huntington National Bank boosted its position 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 purchasing an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Griffon during the 4th quarter worth about $34,000. Finally, Caitong International Asset Management Co. Ltd boosted its position 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 worth $36,000 after purchasing an additional 388 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

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.