Griffon (NYSE:GFF) Director Kevin Sullivan Sells 3,500 Shares

Griffon Corporation (NYSE:GFF) Director Kevin Sullivan sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $105.59, for a total transaction of $369,565.00. Following the sale, the director directly owned 40,602 shares of the company’s stock, valued at approximately $4,287,165.18. This represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Griffon Stock Down 1.7%

GFF opened at $104.17 on Friday. The firm’s 50 day simple moving average is $93.89 and its two-hundred day simple moving average is $86.81. The company has a market capitalization of $4.72 billion, a PE ratio of 26.57 and a beta of 1.44. Griffon Corporation has a 1-year low of $65.01 and a 1-year high of $108.57. 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 (NYSE:GFF) last issued its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. The firm had revenue of $481.37 million during the quarter, compared to the consensus estimate of $457.70 million. Griffon had a net margin of 8.08% and a return on equity of 249.31%. The company’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.50 EPS. As a group, equities analysts forecast that Griffon Corporation will post 5.41 EPS for the current year.

Griffon Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, August 31st. This represents a $0.88 annualized dividend and a yield of 0.8%. Griffon’s payout ratio is 22.45%.

Institutional Investors Weigh In On Griffon

A number of institutional investors have recently bought and sold shares of GFF. Royal Bank of Canada lifted its position in shares of Griffon by 20.2% in the first quarter. Royal Bank of Canada now owns 94,955 shares of the conglomerate’s stock valued at $6,790,000 after acquiring an additional 15,925 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Griffon by 9.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate’s stock worth $1,676,000 after purchasing an additional 2,047 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Griffon during the first quarter worth about $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Griffon by 21.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,035 shares of the conglomerate’s stock valued at $6,080,000 after purchasing an additional 14,764 shares during the period. Finally, Strs Ohio bought a new stake in Griffon during the 1st quarter valued at approximately $57,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Analyst Ratings Changes

GFF has been the subject of a number of analyst reports. Wall Street Zen cut Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Griffon in a research report on Friday, August 7th. Robert W. Baird set a $125.00 price objective on Griffon in a research note on Thursday, August 6th. Stephens increased their target price on shares of Griffon from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Griffon from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company 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.