Robert Mehmel Sells 3,272 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,272 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $95.40, for a total transaction of $312,148.80. Following the sale, the chief operating officer directly owned 806,516 shares in the company, valued at $76,941,626.40. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Down 5.4%

GFF opened at $88.96 on Thursday. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $97.58. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 684.36 and a beta of 1.42. The company’s 50 day moving average price is $86.91 and its two-hundred day moving average price is $81.94.

Griffon (NYSE:GFF) last posted its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The firm had revenue of $421.86 million for the quarter, compared to analyst estimates of $414.63 million. During the same period in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was down 31.0% compared to the same quarter last year. As a group, research analysts predict that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC lifted its position in shares of Griffon by 3.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,546 shares of the conglomerate’s stock valued at $261,000 after acquiring an additional 115 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Griffon by 1.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate’s stock valued at $759,000 after acquiring an additional 132 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Griffon by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock worth $658,000 after buying an additional 136 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Griffon by 30.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 585 shares of the conglomerate’s stock worth $43,000 after buying an additional 137 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Griffon by 33.0% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock worth $41,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GFF shares. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 price target on shares of Griffon in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average 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.