Griffon (NYSE:GFF) COO Robert Mehmel Sells 5,501 Shares

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 5,501 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $95.18, for a total value of $523,585.18. Following the transaction, the chief operating officer directly owned 809,788 shares in the company, valued at approximately $77,075,621.84. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Down 0.6%

GFF stock traded down $0.56 during trading on Tuesday, reaching $94.17. 327,681 shares of the stock were exchanged, compared to its average volume of 344,229. The firm’s 50 day moving average is $86.11 and its 200 day moving average is $81.71. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $97.58. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. The firm has a market cap of $4.32 billion, a P/E ratio of 724.46 and a beta of 1.42.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business had revenue of $421.86 million for the quarter, compared to the consensus estimate of $414.63 million. During the same period in the prior year, the business earned $1.23 EPS. The firm’s revenue for the quarter was down 31.0% on a year-over-year basis. As a group, research analysts forecast that Griffon Corporation will post 5.17 EPS for the current year.

Griffon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, May 29th. Griffon’s dividend payout ratio is 676.92%.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings lowered Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Robert W. Baird set a $115.00 price objective on Griffon in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Hedge Funds Weigh In On Griffon

Institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in shares of Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Griffon in the first quarter valued at approximately $29,000. Huntington National Bank grew its holdings in shares of Griffon by 645.0% in the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Griffon in the fourth quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Griffon by 362.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after acquiring an additional 388 shares in the last quarter. 73.22% of the stock is owned by institutional investors.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.