Griffon (NYSE:GFF) COO Robert Mehmel Sells 3,018 Shares

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,018 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $95.39, for a total transaction of $287,887.02. Following the completion of the sale, the chief operating officer owned 803,498 shares of the company’s stock, valued at approximately $76,645,674.22. The trade was a 0.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Price Performance

Shares of Griffon stock traded up $2.37 on Thursday, hitting $91.21. 752,431 shares of the company were exchanged, compared to its average volume of 350,488. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 701.69 and a beta of 1.42. The company has a 50-day moving average price of $86.91 and a 200 day moving average price of $81.94. Griffon Corporation has a 1-year low of $65.01 and a 1-year high of $97.58. 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 (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The firm had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $414.63 million. During the same quarter last year, the firm earned $1.23 earnings per share. The business’s revenue for the quarter was down 31.0% on a year-over-year basis. As a group, sell-side analysts predict that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. Griffon’s dividend payout ratio (DPR) is 676.92%.

Institutional Trading of Griffon

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. raised its holdings in Griffon by 149.6% in the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after buying an additional 211 shares during the period. Scarborough Advisors LLC purchased a new position in Griffon during the first quarter worth about $29,000. Huntington National Bank increased its position in shares of Griffon by 645.0% during the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Griffon during the fourth quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Griffon by 362.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after acquiring an additional 388 shares during the period. 73.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GFF has been the topic of several recent research reports. Robert W. Baird set a $115.00 price target on shares of Griffon in a research report on Friday, May 8th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

About Griffon

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.