Insider Selling: Griffon Co. (NYSE:GFF) CEO Sells 6,532 Shares of Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 6,532 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $70.06, for a total transaction of $457,631.92. Following the completion of the sale, the chief executive officer now directly owns 2,169,667 shares in the company, valued at $152,006,870.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Griffon Stock Performance

NYSE GFF opened at $67.71 on Friday. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50. Griffon Co. has a fifty-two week low of $38.33 and a fifty-two week high of $77.99. The company has a market cap of $3.36 billion, a P/E ratio of 17.87 and a beta of 1.29. The business’s 50 day moving average price is $66.30 and its 200-day moving average price is $67.01.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). The company had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. Sell-side analysts predict that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Wednesday, August 28th. Griffon’s payout ratio is presently 15.83%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 12th. Robert W. Baird decreased their target price on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Stephens reissued an “overweight” rating and issued a $85.00 target price on shares of Griffon in a research report on Tuesday, September 10th. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $81.50.

Hedge Funds Weigh In On Griffon

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Griffon by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock worth $432,954,000 after purchasing an additional 38,707 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Griffon by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,379,000 shares of the conglomerate’s stock worth $88,066,000 after buying an additional 19,644 shares in the last quarter. LSV Asset Management grew its position in shares of Griffon by 486.0% during the 1st quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock valued at $66,834,000 after acquiring an additional 755,773 shares during the period. Renaissance Technologies LLC increased its position in shares of Griffon by 9.6% in the second quarter. Renaissance Technologies LLC now owns 631,851 shares of the conglomerate’s stock valued at $40,350,000 after buying an additional 55,100 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Griffon by 112.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 283,800 shares of the conglomerate’s stock worth $18,123,000 after acquiring an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Griffon Company Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.