Griffon (NYSE:GFF) COO Robert Mehmel Sells 7,873 Shares of Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 7,873 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $96.02, for a total transaction of $755,965.46. Following the sale, the chief operating officer directly owned 790,352 shares in the company, valued at $75,889,599.04. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Up 0.7%

GFF stock opened at $96.56 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $97.70. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 742.86 and a beta of 1.42. The business’s 50-day moving average is $88.87 and its 200 day moving average is $82.80.

Griffon (NYSE:GFF) last issued its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $421.86 million for 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 business’s revenue for the quarter was down 31.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. On average, sell-side analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 29th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.88 annualized dividend and a yield of 0.9%. Griffon’s dividend payout ratio is presently 676.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GFF. Corient Private Wealth LLC grew its holdings in shares of Griffon by 3.4% during the fourth quarter. Corient Private Wealth LLC now owns 3,546 shares of the conglomerate’s stock worth $261,000 after buying an additional 115 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Griffon by 1.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate’s stock worth $759,000 after buying an additional 132 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Griffon by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock worth $658,000 after purchasing an additional 136 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Griffon by 30.6% in the 4th 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Griffon by 33.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Analysts Set New Price Targets

GFF has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Robert W. Baird set a $115.00 target price on shares of Griffon in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.