Griffon (NYSE:GFF) COO Robert Mehmel Sells 3,240 Shares

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,240 shares of Griffon stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $107.16, for a total transaction of $347,198.40. Following the transaction, the chief operating officer directly owned 723,032 shares of the company’s stock, valued at approximately $77,480,109.12. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Price Performance

Shares of GFF opened at $105.81 on Friday. The stock has a market cap of $4.79 billion, a PE ratio of 26.99 and a beta of 1.44. The company has a debt-to-equity ratio of 9.75, a quick ratio of 1.79 and a current ratio of 2.41. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $108.57. The firm’s 50-day simple moving average is $93.51 and its two-hundred day simple moving average is $86.69.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share 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 during the quarter, compared to the consensus estimate of $457.70 million. During the same quarter last year, the firm earned $1.50 earnings per share. The business’s revenue for the quarter was down 21.5% on a year-over-year basis. Analysts anticipate that Griffon Corporation will post 5.41 earnings per share for the current fiscal year.

Griffon Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research upgraded Griffon from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Robert W. Baird set a $125.00 target price on Griffon in a research note on Thursday, August 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Griffon in a report on Friday, August 7th. Stephens lifted their price target on Griffon from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Griffon currently has a consensus rating of “Buy” and a consensus price target of $122.50.

Hedge Funds Weigh In On Griffon

A number of hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in Griffon during the 2nd quarter valued at $9,169,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Griffon in the 2nd quarter worth $418,000. Commerce Bank purchased a new position in shares of Griffon in the second quarter worth $390,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Griffon in the second quarter worth $75,000. Finally, Vise Technologies Inc. bought a new position in shares of Griffon during the second quarter valued at $1,985,000. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

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.