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

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 7,743 shares of Griffon stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $107.62, for a total value of $833,301.66. Following the transaction, the chief operating officer directly owned 715,289 shares of the company’s stock, valued at $76,979,402.18. The trade was a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Down 1.2%

Griffon stock opened at $101.18 on Friday. The firm has a 50 day moving average of $96.25 and a 200 day moving average of $89.78. 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 Corporation has a 12-month low of $65.01 and a 12-month high of $109.00. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 25.81 and a beta of 1.50.

Griffon (NYSE:GFF) last issued 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. The business had revenue of $481.37 million during the quarter, compared to analysts’ expectations of $457.70 million. Griffon had a net margin of 8.08% and a return on equity of 249.31%. The company’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 earnings per share. As a group, research analysts predict that Griffon Corporation will post 5.40 earnings per share for the current year.

Hedge Funds Weigh In On Griffon

Institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Griffon during the 2nd quarter valued at $31,000. Scarborough Advisors LLC bought a new position in Griffon in the first quarter valued at about $29,000. Ancora Advisors LLC bought a new position in Griffon in the 2nd quarter worth approximately $40,000. Fortitude Family Office LLC grew its holdings in Griffon by 2,768.8% during the 3rd quarter. Fortitude Family Office LLC now owns 459 shares of the conglomerate’s stock valued at $43,000 after purchasing an additional 443 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Griffon in the 2nd quarter worth $53,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Analyst Ratings Changes

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

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.