Griffon (NYSE:GFF) COO Robert Mehmel Sells 4,726 Shares of Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 4,726 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $95.46, for a total transaction of $451,143.96. Following the completion of the transaction, the chief operating officer owned 798,225 shares of the company’s stock, valued at approximately $76,198,558.50. This represents a 0.59% decrease in their position. The sale 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 Stock Performance

NYSE:GFF opened at $96.56 on Friday. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $97.70. The firm has a 50 day moving average of $88.87 and a 200-day moving average of $82.80. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. The stock has a market capitalization of $4.43 billion, a P/E ratio of 742.86 and a beta of 1.42.

Griffon (NYSE:GFF) last issued its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $421.86 million for the quarter, compared to analyst estimates of $414.63 million. During the same quarter last year, the firm earned $1.23 EPS. The company’s revenue for the quarter was down 31.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on GFF. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Robert W. Baird set a $115.00 target price on Griffon in a report on Friday, May 8th. Wall Street Zen cut Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

Institutional Trading of Griffon

A number of institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. raised its position in shares of 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 acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Griffon in the 1st quarter valued at about $29,000. Huntington National Bank grew its position in Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 387 shares during the period. Hilton Head Capital Partners LLC bought a new position in shares of Griffon in the fourth quarter valued at $34,000. Finally, 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 worth $36,000 after acquiring an additional 388 shares during the last quarter. Institutional investors own 73.22% of the company’s stock.

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.