Griffon Co. (NYSE:GFF) CFO Brian G. Harris Sells 251 Shares

Griffon Co. (NYSE:GFF) CFO Brian G. Harris sold 251 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $67.50, for a total transaction of $16,942.50. Following the transaction, the chief financial officer now directly owns 199,497 shares in the company, valued at $13,466,047.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Griffon Trading Up 3.2 %

Shares of GFF opened at $70.03 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 52-week low of $38.33 and a 52-week high of $77.99. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 17.92 and a beta of 1.29. The business’s fifty day moving average is $66.23 and its 200-day moving average is $67.35.

Griffon (NYSE:GFF) last released its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). Griffon had a return on equity of 96.05% and a net margin of 7.27%. The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $688.94 million. During the same quarter in the prior year, the company earned $1.29 earnings per share. Griffon’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities analysts anticipate that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Dividend Announcement

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

Analyst Ratings Changes

GFF has been the topic of a number of analyst reports. Robert W. Baird reduced their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com lowered Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Griffon in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Griffon has an average rating of “Buy” and a consensus target price of $81.50.

Hedge Funds Weigh In On Griffon

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