Griffon Co. (NYSE:GFF) COO Sells $228,680.60 in Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 3,265 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $70.04, for a total value of $228,680.60. Following the completion of the sale, the chief operating officer now owns 747,607 shares of the company’s stock, valued at $52,362,394.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Griffon Stock Performance

Shares of NYSE GFF traded down $0.53 during mid-day trading on Tuesday, hitting $69.47. The company had a trading volume of 282,826 shares, compared to its average volume of 437,849. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99. The firm has a market cap of $3.44 billion, a P/E ratio of 18.39 and a beta of 1.29. The business’s 50-day simple moving average is $66.26 and its 200-day simple 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.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 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 firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts predict that Griffon Co. will post 4.87 earnings per share for the current fiscal year.

Griffon Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.86%. Griffon’s payout ratio is currently 15.83%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $85.00 target price on shares of Griffon in a research note on Tuesday, September 10th. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird cut their price objective on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Griffon currently has an average rating of “Buy” and an average price target of $81.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GFF. Evergreen Capital Management LLC increased its holdings in shares of Griffon by 5.3% in the second quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock valued at $256,000 after purchasing an additional 201 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in Griffon by 0.5% during 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 during the period. 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% in 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 grew 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 worth $707,000 after buying an additional 322 shares during the period. 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.