Griffon Co. (NYSE:GFF) COO Sells $1,011,933.84 in Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 15,108 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $66.98, for a total transaction of $1,011,933.84. Following the completion of the transaction, the chief operating officer now owns 797,806 shares in the company, valued at $53,437,045.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Griffon Stock Up 3.2 %

Shares of NYSE:GFF opened at $70.03 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The company has a fifty day simple moving average of $66.23 and a 200 day simple moving average of $67.35. The firm has a market cap of $3.47 billion, a PE ratio of 17.92 and a beta of 1.29. Griffon Co. has a 12-month low of $38.33 and a 12-month high of $77.99.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $688.94 million. During the same quarter in the previous year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.86%. The ex-dividend date was Wednesday, August 28th. Griffon’s payout ratio is currently 15.83%.

Institutional Investors Weigh In On Griffon

A number of institutional investors and hedge funds have recently bought and sold shares of GFF. Scarborough Advisors LLC acquired a new stake in Griffon during the 4th quarter worth about $35,000. Quarry LP grew its stake in Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after buying an additional 386 shares during the last quarter. GAMMA Investing LLC raised its holdings in Griffon by 65.1% in the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after acquiring an additional 332 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Griffon in the second quarter worth about $55,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Griffon in the first quarter worth $65,000. 73.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on GFF. Robert W. Baird dropped their price objective on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Stephens reiterated an “overweight” rating and issued a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. Finally, StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Griffon presently has a consensus rating of “Buy” and a consensus target price of $81.50.

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.