Griffon (NYSE:GFF) Stock: Insider Robert Mehmel Sells 7,743 Shares

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 7,743 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $107.62, for a total value of $833,301.66. Following the completion of the transaction, the chief operating officer directly owned 715,289 shares in the company, valued at approximately $76,979,402.18. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Performance

NYSE:GFF opened at $101.18 on Friday. The company has a debt-to-equity ratio of 9.75, a quick ratio of 1.79 and a current ratio of 2.41. The stock has a 50-day simple moving average of $96.25 and a two-hundred day simple moving average of $89.78. The firm has a market capitalization of $4.58 billion, a PE ratio of 25.81 and a beta of 1.50. Griffon Corporation has a 52-week low of $65.01 and a 52-week high of $109.00.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. Griffon had a return on equity of 249.31% and a net margin of 8.08%. The company had revenue of $481.37 million during the quarter, compared to the consensus estimate of $457.70 million. During the same period in the previous year, the company posted $1.50 EPS. The firm’s revenue was down 21.5% on a year-over-year basis. Analysts forecast that Griffon Corporation will post 5.40 EPS for the current year.

Wall Street Analysts Forecast Growth

GFF has been the subject of a number of analyst reports. Zacks Research cut shares of Griffon from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings raised shares of Griffon from a “hold (c-)” rating to a “buy (b)” rating in a report on Tuesday, September 22nd. Robert W. Baird set a $125.00 target price on shares of Griffon in a report on Thursday, August 6th. Finally, Stephens raised their price target on Griffon from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Griffon presently has a consensus rating of “Buy” and an average target price of $122.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Griffon during the second quarter valued at $31,000. Scarborough Advisors LLC purchased a new stake in shares of Griffon during the 1st quarter valued at about $29,000. Ancora Advisors LLC bought a new position in shares of Griffon in the 2nd quarter valued at about $40,000. Fortitude Family Office LLC lifted its holdings in shares of Griffon by 2,768.8% in the 3rd quarter. Fortitude Family Office LLC now owns 459 shares of the conglomerate’s stock valued at $43,000 after acquiring an additional 443 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Griffon in the second quarter worth about $53,000. 73.22% of the stock is currently owned by institutional investors.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified manufacturer and holding company that develops, manufactures and distributes products for the home, building and consumer markets. The company operates through its Home and Building Products and Consumer and Professional Products businesses.

Its Home and Building Products operations include garage doors, rolling steel doors, security grilles, shutters and related building products sold under brands such as Clopay, Cornell, Cookson and Wayne Dalton.