Cheryl Turnbull Sells 3,000 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) Director Cheryl Turnbull sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $106.12, for a total value of $318,360.00. Following the completion of the sale, the director owned 30,039 shares of the company’s stock, valued at approximately $3,187,738.68. This represents a 9.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Griffon Price Performance

GFF stock opened at $104.17 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.79 and a debt-to-equity ratio of 9.75. The company has a market capitalization of $4.72 billion, a P/E ratio of 26.57 and a beta of 1.44. The business has a 50 day simple moving average of $93.89 and a 200-day simple moving average of $86.81. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $108.57.

Griffon (NYSE:GFF) last announced its 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. Griffon had a net margin of 8.08% and a return on equity of 249.31%. The business had revenue of $481.37 million for the quarter, compared to analysts’ expectations of $457.70 million. During the same period in the previous year, the company posted $1.50 EPS. The company’s quarterly revenue was down 21.5% on a year-over-year basis. As a group, equities analysts anticipate that Griffon Corporation will post 5.41 EPS for the current year.

Griffon Dividend Announcement

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

Hedge Funds Weigh In On Griffon

Several institutional investors have recently bought and sold shares of GFF. Jupiter Topco LLC purchased a new position in Griffon during the 2nd quarter worth $24,381,000. ABS Investment Management LLC acquired a new stake in shares of Griffon in the 2nd quarter worth $3,413,550,000. Hsbc Holdings PLC purchased a new stake in shares of Griffon in the second quarter valued at about $581,000. Ancora Advisors LLC purchased a new stake in shares of Griffon in the second quarter valued at about $40,000. Finally, Primecap Management Co. CA acquired a new position in shares of Griffon during the second quarter worth about $40,177,000. 73.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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