Griffon (NYSE:GFF) COO Robert Mehmel Sells 286 Shares of Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 286 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $95.66, for a total transaction of $27,358.76. Following the completion of the transaction, the chief operating officer directly owned 790,066 shares in the company, valued at $75,577,713.56. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Up 1.2%

GFF stock opened at $97.55 on Wednesday. The stock has a market capitalization of $4.47 billion, a PE ratio of 750.41 and a beta of 1.42. The company has a fifty day moving average of $89.32 and a 200-day moving average of $83.19. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. Griffon Corporation has a one year low of $65.01 and a one year high of $98.37.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, topping 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 net margin of 0.31% and a return on equity of 298.42%. The business’s revenue was down 31.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 earnings per share. As a group, analysts expect that Griffon Corporation will post 5.17 EPS for the current year.

Griffon Dividend Announcement

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

Institutional Trading of Griffon

Institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. increased its stake in shares of Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Griffon during the 1st quarter valued at $29,000. Huntington National Bank grew its holdings in Griffon by 645.0% during the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after buying an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Griffon during the fourth quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd increased its position 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 buying an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GFF has been the topic of a number of analyst reports. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings downgraded Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 target price on shares of Griffon in a research report on Friday, May 8th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.