Griffon Corporation $GFF Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC raised its stake in shares of Griffon Corporation (NYSE:GFF) by 15.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 60,379 shares of the conglomerate’s stock after acquiring an additional 8,121 shares during the quarter. Moran Wealth Management LLC’s holdings in Griffon were worth $4,388,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GFF. Hantz Financial Services Inc. increased its stake in shares of 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 purchasing an additional 211 shares in the last quarter. 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 lifted its stake in 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 buying an additional 388 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in Griffon in the 2nd quarter valued at about $37,000. Finally, Quarry LP lifted its stake in Griffon by 342.5% in the 4th quarter. Quarry LP now owns 531 shares of the conglomerate’s stock valued at $39,000 after buying an additional 411 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Griffon Trading Down 0.1%

GFF opened at $92.74 on Friday. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 713.45 and a beta of 1.41. The company’s 50 day simple moving average is $89.44 and its two-hundred day simple moving average is $83.48. Griffon Corporation has a 1-year low of $65.01 and a 1-year high of $98.36. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business had revenue of $421.86 million during the quarter, compared to analyst estimates of $414.63 million. During the same period in the prior year, the business earned $1.23 earnings per share. The business’s revenue was down 31.0% compared to the same quarter last year. Analysts expect that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction on Friday, June 12th. The stock was sold at an average price of $94.92, for a total transaction of $9,492,000.00. Following the transaction, the chief executive officer owned 1,784,297 shares in the company, valued at $169,365,471.24. The trade was a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert F. Mehmel sold 7,873 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $96.02, for a total transaction of $755,965.46. Following the transaction, the chief operating officer directly owned 790,352 shares in the company, valued at approximately $75,889,599.04. The trade was a 0.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,389 shares of company stock worth $12,309,525 in the last three months. 10.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GFF. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Robert W. Baird set a $115.00 target price on Griffon in a research report on Friday, May 8th. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Griffon has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

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.