Griffon (NYSE:GFF) Director James Sight Sells 3,070 Shares of Stock

Griffon Corporation (NYSE:GFF) Director James Sight sold 3,070 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $96.15, for a total transaction of $295,180.50. Following the transaction, the director owned 13,872 shares in the company, valued at $1,333,792.80. This trade represents a 18.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Griffon Trading Up 0.2%

GFF opened at $93.86 on Thursday. Griffon Corporation has a one year low of $63.92 and a one year high of $97.58. The company has a debt-to-equity ratio of 12.36, a quick ratio of 1.27 and a current ratio of 2.55. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 102.02, a P/E/G ratio of 1.56 and a beta of 1.33. The stock’s 50 day moving average price is $80.18 and its 200-day moving average price is $76.98.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Thursday, February 5th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. Griffon had a return on equity of 228.83% and a net margin of 1.76%.The company had revenue of $649.09 million during the quarter, compared to analysts’ expectations of $618.35 million. During the same quarter in the previous year, the business earned $1.39 EPS. Griffon’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Friday, February 27th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Griffon’s dividend payout ratio (DPR) is currently 95.65%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GFF. Weiss Ratings restated a “hold (c)” rating on shares of Griffon in a research note on Monday, December 29th. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Wall Street Zen upgraded Griffon from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. CJS Securities upgraded Griffon to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Stephens increased their price target on Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Griffon currently has an average rating of “Buy” and an average target price of $101.80.

Hedge Funds Weigh In On Griffon

A number of large investors have recently bought and sold shares of GFF. Primecap Management Co. CA boosted its position in Griffon by 24.1% during the 4th quarter. Primecap Management Co. CA now owns 410,547 shares of the conglomerate’s stock valued at $30,237,000 after acquiring an additional 79,850 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Griffon by 6.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 21,107 shares of the conglomerate’s stock worth $1,555,000 after purchasing an additional 1,230 shares during the last quarter. Deutsche Bank AG boosted its position in Griffon by 2.4% during the fourth quarter. Deutsche Bank AG now owns 33,377 shares of the conglomerate’s stock valued at $2,458,000 after purchasing an additional 768 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Griffon by 1.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate’s stock valued at $759,000 after purchasing an additional 132 shares in the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in Griffon in the fourth quarter valued at about $34,000. Institutional investors own 73.22% of the company’s stock.

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.