Griffon (NYSE:GFF) COO Sells $755,965.46 in Stock

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

Griffon Stock Up 0.2%

Shares of Griffon stock opened at $96.56 on Monday. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77. Griffon Corporation has a 52-week low of $65.01 and a 52-week high of $97.70. The company has a market capitalization of $4.43 billion, a P/E ratio of 742.86 and a beta of 1.42. The company has a 50 day moving average of $88.87 and a 200 day moving average of $82.87.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $421.86 million for the quarter, compared to the consensus estimate of $414.63 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The company’s quarterly revenue was down 31.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. As a group, research analysts forecast that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Robert W. Baird set a $115.00 target price on Griffon 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. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.00.

Hedge Funds Weigh In On Griffon

A number of hedge funds and other institutional investors have recently made changes to their positions in GFF. Voss Capital LP grew its stake in shares of Griffon by 13.7% in the 3rd quarter. Voss Capital LP now owns 1,535,000 shares of the conglomerate’s stock valued at $116,890,000 after purchasing an additional 185,000 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Griffon by 396.8% during the fourth quarter. SG Americas Securities LLC now owns 66,088 shares of the conglomerate’s stock worth $4,867,000 after purchasing an additional 52,786 shares during the period. MHR Fund Management LLC acquired a new stake in shares of Griffon during the third quarter worth $9,519,000. Moran Wealth Management LLC grew its position in Griffon by 97.4% in the 4th quarter. Moran Wealth Management LLC now owns 52,258 shares of the conglomerate’s stock valued at $3,849,000 after buying an additional 25,790 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Griffon by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 427,674 shares of the conglomerate’s stock valued at $32,567,000 after buying an additional 25,681 shares during the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

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.