Brian G. Harris Buys 1,000 Shares of Griffon Co. (GFF) Stock
Griffon Co. (NYSE:GFF) CFO Brian G. Harris purchased 1,000 shares of Griffon stock in a transaction on Monday, December 3rd. The stock was bought at an average cost of $12.10 per share, for a total transaction of $12,100.00. Following the transaction, the chief financial officer now directly owns 69,777 shares in the company, valued at $844,301.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of NYSE GFF traded up $0.07 during midday trading on Thursday, hitting $11.26. 102 shares of the company’s stock were exchanged, compared to its average volume of 207,982. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.31 and a current ratio of 2.32. Griffon Co. has a twelve month low of $10.15 and a twelve month high of $23.55. The firm has a market capitalization of $511.10 million, a PE ratio of 14.80 and a beta of 1.58.
Griffon (NYSE:GFF) last issued its earnings results on Wednesday, November 14th. The conglomerate reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Griffon had a return on equity of 6.94% and a net margin of 6.35%. The business had revenue of $545.51 million for the quarter, compared to analyst estimates of $590.58 million. During the same quarter last year, the company earned $0.36 EPS. On average, sell-side analysts forecast that Griffon Co. will post 0.94 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Claybrook Capital LLC raised its position in shares of Griffon by 9.7% during the 3rd quarter. Claybrook Capital LLC now owns 56,551 shares of the conglomerate’s stock worth $913,000 after acquiring an additional 5,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Griffon by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,926,249 shares of the conglomerate’s stock worth $63,410,000 after acquiring an additional 223,950 shares in the last quarter. Legal & General Group Plc raised its position in shares of Griffon by 20.3% during the 3rd quarter. Legal & General Group Plc now owns 84,000 shares of the conglomerate’s stock worth $1,358,000 after acquiring an additional 14,160 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Griffon by 8.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 174,458 shares of the conglomerate’s stock worth $2,817,000 after acquiring an additional 14,197 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Griffon by 7.6% during the 3rd quarter. Teachers Advisors LLC now owns 57,305 shares of the conglomerate’s stock worth $925,000 after acquiring an additional 4,062 shares in the last quarter. 66.48% of the stock is currently owned by institutional investors and hedge funds.
GFF has been the topic of a number of analyst reports. Deutsche Bank initiated coverage on Griffon in a research report on Friday, September 21st. They issued a “hold” rating and a $18.00 price target on the stock. Sidoti reduced their price target on Griffon from $26.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, November 15th. Robert W. Baird set a $18.00 price target on Griffon and gave the company a “hold” rating in a research report on Tuesday, October 16th. Goldman Sachs Group initiated coverage on Griffon in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Zacks Investment Research lowered Griffon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $17.50.
Griffon Corporation, through its wholly-owned subsidiaries, engages in home and building, telephonics, and plastic products businesses worldwide. Its Home & Building Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; and residential and commercial garage doors to professional dealers and home center retail chains.
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