Ronald Kramer Sells 100,000 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) CEO Ronald Kramer sold 100,000 shares of Griffon stock in a transaction on Friday, June 12th. The stock was sold at an average price of $94.92, for a total value of $9,492,000.00. Following the sale, the chief executive officer owned 1,784,297 shares in the company, valued at $169,365,471.24. This trade represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Griffon Stock Performance

Shares of Griffon stock opened at $94.17 on Wednesday. The business’s fifty day simple moving average is $86.57 and its 200 day simple moving average is $81.85. The firm has a market capitalization of $4.32 billion, a P/E ratio of 724.46 and a beta of 1.42. Griffon Corporation has a 12 month low of $65.01 and a 12 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.

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

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be issued 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 is Friday, May 29th. Griffon’s dividend payout ratio (DPR) is 676.92%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GFF shares. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Robert W. Baird set a $115.00 price target on Griffon in a report on Friday, May 8th. Finally, Weiss Ratings lowered Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Institutional Trading of Griffon

Several hedge funds have recently made changes to their positions in GFF. Hantz Financial Services Inc. raised its stake 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 buying an additional 211 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Griffon in the first quarter valued at $29,000. Huntington National Bank raised its stake 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 buying an additional 387 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of Griffon in the fourth quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd raised its stake 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 buying an additional 388 shares during the period. 73.22% of the stock is currently 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.