Griffon Corporation (GFF) Director Louis J. Grabowsky Acquires 11,000 Shares of Stock
Griffon Corporation (NYSE:GFF) Director Louis J. Grabowsky bought 11,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was purchased at an average price of $23.30 per share, for a total transaction of $256,300.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Griffon Corporation (NYSE GFF) traded up $0.65 during midday trading on Wednesday, hitting $22.90. 94,200 shares of the stock traded hands, compared to its average volume of 122,274. The company has a market capitalization of $1,050.63, a P/E ratio of 25.58 and a beta of 1.42. Griffon Corporation has a 52-week low of $17.65 and a 52-week high of $27.15. The company has a current ratio of 2.96, a quick ratio of 2.15 and a debt-to-equity ratio of 2.43.
Griffon Corporation (NYSE:GFF) last issued its quarterly earnings data on Thursday, November 16th. The conglomerate reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The company had revenue of $430.80 million for the quarter. Griffon Corporation had a net margin of 0.80% and a return on equity of 9.60%. During the same quarter last year, the company earned $0.27 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Wednesday, November 29th will be given a dividend of $0.07 per share. This is an increase from Griffon Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, November 28th. This represents a $0.28 dividend on an annualized basis and a yield of 1.22%. Griffon Corporation’s dividend payout ratio is 70.59%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL raised its position in Griffon Corporation by 5.9% in the third quarter. Gamco Investors INC. ET AL now owns 5,748,352 shares of the conglomerate’s stock worth $127,613,000 after acquiring an additional 318,347 shares during the period. Dimensional Fund Advisors LP raised its position in Griffon Corporation by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,921,492 shares of the conglomerate’s stock worth $87,057,000 after acquiring an additional 23,942 shares during the period. Vanguard Group Inc. raised its position in Griffon Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 3,166,978 shares of the conglomerate’s stock worth $69,516,000 after acquiring an additional 78,214 shares during the period. Gabelli Funds LLC raised its position in Griffon Corporation by 7.6% in the third quarter. Gabelli Funds LLC now owns 1,696,573 shares of the conglomerate’s stock worth $37,664,000 after acquiring an additional 119,627 shares during the period. Finally, State Street Corp raised its position in Griffon Corporation by 3.6% in the second quarter. State Street Corp now owns 791,950 shares of the conglomerate’s stock worth $17,382,000 after acquiring an additional 27,501 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.
Separately, BidaskClub downgraded shares of Griffon Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.
Griffon Corporation Company Profile
Griffon Corporation is a management and holding company that conducts business through its subsidiaries. The Company operates through three segments: Home & Building Products (HBP), Telephonics Corporation (Telephonics) and Clopay Plastic Products Company, Inc (PPC). The HBP segment consists of two companies: The AMES Companies, Inc (AMES) and Clopay Building Products Company, Inc (CBP).
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