Griffon (NYSE:GFF) COO Robert Mehmel Sells 7,873 Shares of Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 7,873 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $96.02, for a total transaction of $755,965.46. Following the transaction, the chief operating officer owned 790,352 shares of the company’s stock, valued at approximately $75,889,599.04. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Up 0.7%

NYSE GFF traded up $0.65 during trading on Friday, reaching $96.56. 1,269,602 shares of the company’s stock were exchanged, compared to its average volume of 357,846. The company has a 50 day moving average price of $88.60 and a two-hundred day moving average price of $82.71. The stock has a market cap of $4.43 billion, a P/E ratio of 742.86 and a beta of 1.42. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $97.70. 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 released its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $421.86 million for the quarter, compared to the consensus estimate of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business’s revenue for the quarter was down 31.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 EPS. On average, equities research analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a yield of 0.9%. Griffon’s dividend payout ratio (DPR) is presently 676.92%.

Hedge Funds Weigh In On Griffon

A number of institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC boosted its stake in Griffon by 3.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,546 shares of the conglomerate’s stock worth $261,000 after purchasing an additional 115 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of Griffon by 1.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate’s stock valued at $759,000 after buying an additional 132 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Griffon by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock worth $658,000 after buying an additional 136 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Griffon by 30.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 585 shares of the conglomerate’s stock worth $43,000 after buying an additional 137 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Griffon by 33.0% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock worth $41,000 after buying an additional 142 shares during the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Griffon Company Profile

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.