Griffon (NYSE:GFF) COO Sells $1,709,870.80 in Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 15,928 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $107.35, for a total transaction of $1,709,870.80. Following the completion of the transaction, the chief operating officer directly owned 732,911 shares of the company’s stock, valued at approximately $78,677,995.85. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Price Performance

GFF stock opened at $105.81 on Friday. The stock has a 50-day moving average price of $93.51 and a two-hundred day moving average price of $86.69. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $108.57. The stock has a market cap of $4.79 billion, a PE ratio of 26.99 and a beta of 1.44. The company has a current ratio of 2.41, a quick ratio of 1.79 and a debt-to-equity ratio of 9.75.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, August 5th. The conglomerate reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. The company had revenue of $481.37 million for the quarter, compared to analyst estimates of $457.70 million. Griffon had a return on equity of 249.31% and a net margin of 8.08%.The company’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 earnings per share. Equities analysts forecast that Griffon Corporation will post 5.41 EPS for the current fiscal year.

Griffon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st will be paid a $0.22 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.88 annualized dividend and a yield of 0.8%. Griffon’s payout ratio is presently 22.45%.

Hedge Funds Weigh In On Griffon

Several hedge funds and other institutional investors have recently made changes to their positions in GFF. Hantz Financial Services Inc. raised its position in Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Griffon during the 1st quarter worth about $29,000. Hilton Head Capital Partners LLC acquired a new position in shares of Griffon during the 4th quarter worth about $34,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Griffon by 362.6% in 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. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Griffon in the 2nd quarter valued at about $37,000. 73.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GFF shares. Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Griffon in a research report on Friday, August 7th. Zacks Research upgraded shares of Griffon from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $125.00 target price on shares of Griffon in a research report on Thursday, August 6th. Finally, Stephens lifted their price target on shares of Griffon from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $122.50.

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.