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.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, November 29th will be given a dividend of $0.0725 per share. This represents a $0.29 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Wednesday, November 28th. This is a positive change from Griffon’s previous quarterly dividend of $0.07. Griffon’s dividend payout ratio (DPR) is 38.16%.

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.

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About Griffon

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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