Griffon Co. (NYSE:GFF) COO Robert F. Mehmel Sells 12,943 Shares

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 12,943 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $68.19, for a total value of $882,583.17. Following the completion of the sale, the chief operating officer now directly owns 762,914 shares in the company, valued at approximately $52,023,105.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Griffon Price Performance

Griffon stock opened at $70.03 on Friday. The stock has a 50-day moving average price of $66.23 and a two-hundred day moving average price of $67.35. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99. The company has a market capitalization of $3.47 billion, a PE ratio of 18.48 and a beta of 1.29. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71.

Griffon (NYSE:GFF) last issued 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 net margin of 7.27% and a return on equity of 96.05%. The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $688.94 million. During the same quarter last year, the business earned $1.29 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts expect that Griffon Co. will post 4.87 EPS for the current year.

Griffon Dividend Announcement

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

Wall Street Analyst Weigh In

GFF has been the topic of a number of recent analyst reports. Robert W. Baird decreased their target price on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Stephens reaffirmed an “overweight” rating and set 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 research note 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 MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $81.50.

Institutional Investors Weigh In On Griffon

Several institutional investors and hedge funds have recently made changes to their positions in GFF. Evergreen Capital Management LLC raised its stake in Griffon by 5.3% during the second quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock worth $256,000 after buying an additional 201 shares during the last quarter. Essex Investment Management Co. LLC raised its position in shares of Griffon by 0.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 39,526 shares of the conglomerate’s stock worth $2,899,000 after acquiring an additional 213 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Griffon by 1.3% in 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 during the period. National Bank of Canada FI boosted its position in shares of Griffon by 2.2% during the 2nd quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate’s stock valued at $930,000 after purchasing an additional 311 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Griffon by 3.0% during 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. Institutional investors and hedge funds own 73.22% of the company’s stock.

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.