Vontobel Holding Ltd. Sells 827 Shares of Griffon Co. (NYSE:GFF)

Vontobel Holding Ltd. lessened its position in Griffon Co. (NYSE:GFF) by 17.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,901 shares of the conglomerate’s stock after selling 827 shares during the period. Vontobel Holding Ltd.’s holdings in Griffon were worth $273,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Quarry LP lifted 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 purchasing an additional 386 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Griffon in the second quarter valued at approximately $55,000. Plato Investment Management Ltd bought a new position in shares of Griffon during the 1st quarter worth approximately $65,000. DekaBank Deutsche Girozentrale bought a new position in shares of Griffon during the 2nd quarter worth approximately $70,000. Finally, GAMMA Investing LLC increased its holdings in shares of Griffon by 56.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock worth $79,000 after acquiring an additional 411 shares during the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Griffon news, CFO Brian G. Harris sold 13,314 shares of Griffon stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.10, for a total value of $880,055.40. Following the completion of the transaction, the chief financial officer now directly owns 199,748 shares of the company’s stock, valued at $13,203,342.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Griffon news, CFO Brian G. Harris sold 13,314 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $66.10, for a total value of $880,055.40. Following the transaction, the chief financial officer now directly owns 199,748 shares of the company’s stock, valued at $13,203,342.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert F. Mehmel sold 912 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $70.06, for a total transaction of $63,894.72. Following the completion of the transaction, the chief operating officer now owns 746,611 shares of the company’s stock, valued at $52,307,566.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,464 shares of company stock valued at $17,244,450 over the last 90 days. 16.10% of the stock is owned by corporate insiders.

Griffon Stock Down 1.0 %

GFF stock opened at $64.95 on Wednesday. The business’s fifty day moving average price is $66.41 and its two-hundred day moving average price is $66.92. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 17.14 and a beta of 1.29. Griffon Co. has a fifty-two week low of $38.33 and a fifty-two week high of $77.99. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39.

Griffon (NYSE:GFF) last issued its quarterly earnings data 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). The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. Griffon’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 EPS. On average, equities analysts anticipate that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, August 28th. Griffon’s dividend payout ratio (DPR) is currently 15.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GFF shares. Stephens reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Griffon in a research report on Tuesday, September 10th. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 12th. Finally, Robert W. Baird upped their price target on shares of Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Griffon presently has a consensus rating of “Buy” and a consensus price target of $83.50.

About Griffon

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.