Griffon Co. (NYSE:GFF) Chairman Ronald J. Kramer purchased 29,997 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was bought at an average cost of $12.12 per share, for a total transaction of $363,563.64. Following the purchase, the chairman now owns 2,280,933 shares in the company, valued at $27,644,907.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of GFF opened at $12.41 on Thursday. The company has a quick ratio of 1.31, a current ratio of 2.32 and a debt-to-equity ratio of 2.34. Griffon Co. has a 52-week low of $10.15 and a 52-week high of $23.95. The firm has a market capitalization of $553.12 million, a price-to-earnings ratio of 15.73 and a beta of 1.58.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, November 14th. The conglomerate reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Griffon had a return on equity of 6.94% and a net margin of 6.35%. The firm had revenue of $545.51 million during the quarter, compared to the consensus estimate of $590.58 million. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities research analysts forecast that Griffon Co. will post 1.04 earnings per share for the current year.

Griffon declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 1st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the conglomerate to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, November 29th will be given a $0.0725 dividend. This is an increase from Griffon’s previous quarterly dividend of $0.07. The ex-dividend date is Wednesday, November 28th. This represents a $0.29 annualized dividend and a yield of 2.34%. Griffon’s payout ratio is presently 36.84%.

Several brokerages recently commented on GFF. Sidoti decreased their price target on Griffon from $26.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, November 15th. Robert W. Baird cut their price objective on Griffon from $18.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, November 15th. JPMorgan Chase & Co. started coverage on Griffon in a research report on Tuesday, October 30th. They issued an “underweight” rating for the company. Goldman Sachs Group started coverage on Griffon in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Deutsche Bank started coverage on Griffon in a research report on Friday, September 21st. They issued a “hold” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.50.

A number of institutional investors and hedge funds have recently modified their holdings of GFF. Rehmann Capital Advisory Group bought a new position in Griffon in the 2nd quarter valued at $112,000. Piedmont Investment Advisors LLC bought a new position in Griffon in the 2nd quarter valued at $139,000. Acadian Asset Management LLC bought a new position in Griffon in the 2nd quarter valued at $150,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Griffon during the second quarter worth $196,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Griffon by 444.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,863 shares of the conglomerate’s stock worth $211,000 after acquiring an additional 9,685 shares during the last quarter. Hedge funds and other institutional investors own 66.66% of the company’s stock.

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Griffon Company Profile

Griffon Corporation, through its wholly-owned subsidiaries, engages in home and building, telephonics, and plastic products businesses worldwide. Its Home & Building Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; and residential and commercial garage doors to professional dealers and home center retail chains.

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