Robert Mehmel Sells 547 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 547 shares of Griffon stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $95.37, for a total transaction of $52,167.39. Following the transaction, the chief operating officer directly owned 802,951 shares in the company, valued at $76,577,436.87. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Up 2.7%

Shares of GFF stock traded up $2.37 on Thursday, hitting $91.21. 752,431 shares of the company’s stock traded hands, compared to its average volume of 350,488. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 701.69 and a beta of 1.42. The company’s fifty day simple moving average is $86.91 and its 200 day simple moving average is $81.94. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86.

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 the consensus estimate of $0.99 by $0.06. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The business had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. During the same period in the previous year, the firm posted $1.23 earnings per share. The firm’s revenue for the quarter was down 31.0% on a year-over-year basis. Equities analysts forecast that Griffon Corporation will post 5.17 EPS for the current year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 29th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, May 29th. This represents a $0.88 annualized dividend and a yield of 1.0%. Griffon’s dividend payout ratio is currently 676.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. lifted its holdings in Griffon by 149.6% in the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after buying an additional 211 shares during the period. Scarborough Advisors LLC bought a new position in shares of Griffon during the first quarter valued at approximately $29,000. Huntington National Bank lifted its stake in Griffon by 645.0% in the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 387 shares during the period. Hilton Head Capital Partners LLC bought a new stake in Griffon in the fourth quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Griffon by 362.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 388 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GFF. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Robert W. Baird set a $115.00 price objective on Griffon in a research report on Friday, May 8th. Weiss Ratings lowered Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

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.