Insider Selling: Griffon (NYSE:GFF) Director Sells 3,000 Shares of Stock

Griffon Corporation (NYSE:GFF) Director Cheryl Turnbull sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $106.12, for a total transaction of $318,360.00. Following the sale, the director owned 30,039 shares in the company, valued at approximately $3,187,738.68. The trade was a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Griffon Stock Down 1.7%

NYSE GFF traded down $1.80 during mid-day trading on Friday, reaching $104.17. The stock had a trading volume of 260,298 shares, compared to its average volume of 352,680. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $108.57. The stock has a market cap of $4.72 billion, a PE ratio of 26.57 and a beta of 1.44. The company has a fifty day moving average price of $93.51 and a 200 day moving average price of $86.69. The company has a debt-to-equity ratio of 9.75, a current ratio of 2.41 and a quick ratio of 1.79.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, August 5th. The conglomerate reported $1.51 EPS for the quarter, beating the consensus estimate of $1.34 by $0.17. Griffon had a return on equity of 249.31% and a net margin of 8.08%.The business had revenue of $481.37 million for the quarter, compared to the consensus estimate of $457.70 million. During the same period last year, the business posted $1.50 EPS. The company’s revenue was down 21.5% compared to the same quarter last year. On average, research analysts expect that Griffon Corporation will post 5.41 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Griffon’s dividend payout ratio is presently 22.45%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. grew 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 valued at $26,000 after purchasing an additional 211 shares during the period. Scarborough Advisors LLC purchased a new stake in Griffon during the first quarter valued at approximately $29,000. Hilton Head Capital Partners LLC purchased a new stake in Griffon during the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd raised its position in Griffon by 362.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after acquiring an additional 388 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Griffon during the 2nd quarter worth $37,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Company Profile

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.