Robert F. Mehmel Sells 9,892 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 9,892 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $66.69, for a total transaction of $659,697.48. Following the sale, the chief operating officer now directly owns 787,914 shares of the company’s stock, valued at $52,545,984.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Griffon Trading Up 0.5 %

NYSE:GFF opened at $67.93 on Thursday. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99. The business’s 50-day moving average is $66.14 and its two-hundred day moving average is $67.34. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The firm has a market capitalization of $3.37 billion, a PE ratio of 17.92 and a beta of 1.29.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing the consensus estimate 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 net margin of 7.27% and a return on equity of 96.05%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. Research analysts predict that Griffon Co. will post 4.87 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.88%. Griffon’s dividend payout ratio (DPR) is presently 15.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GFF shares. Robert W. Baird lowered their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Stephens reiterated an “overweight” rating and set a $85.00 target price on shares of Griffon in a report on Tuesday, September 10th. Finally, StockNews.com lowered 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 stock. According to data from MarketBeat, Griffon currently has an average rating of “Buy” and a consensus target price of $81.50.

Institutional Investors Weigh In On Griffon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC boosted its position in Griffon by 5.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock valued at $256,000 after buying an additional 201 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in Griffon by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 39,526 shares of the conglomerate’s stock valued at $2,899,000 after purchasing an additional 213 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Griffon by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,753 shares of the conglomerate’s stock valued at $1,134,000 after purchasing an additional 231 shares in the last quarter. National Bank of Canada FI increased its holdings in Griffon by 2.2% during the 2nd quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate’s stock worth $930,000 after purchasing an additional 311 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Griffon by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 11,074 shares of the conglomerate’s stock valued at $707,000 after purchasing an additional 322 shares in the last quarter. Hedge funds and other institutional investors 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.