Seth Kaplan Sells 15,000 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) SVP Seth Kaplan sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $95.44, for a total value of $1,431,600.00. Following the transaction, the senior vice president owned 119,747 shares in the company, valued at approximately $11,428,653.68. This trade represents a 11.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Griffon Stock Performance

Shares of NYSE:GFF opened at $92.12 on Friday. The firm’s 50 day simple moving average is $80.56 and its 200 day simple moving average is $77.08. Griffon Corporation has a fifty-two week low of $63.92 and a fifty-two week high of $97.58. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 100.13, a P/E/G ratio of 1.56 and a beta of 1.33. The company has a debt-to-equity ratio of 12.36, a current ratio of 2.55 and a quick ratio of 1.27.

Griffon (NYSE:GFF) last issued its earnings results on Thursday, February 5th. The conglomerate reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $649.09 million during the quarter, compared to the consensus estimate of $618.35 million. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. As a group, sell-side analysts forecast that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Friday, February 27th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Griffon’s dividend payout ratio (DPR) is presently 95.65%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GFF. Robert W. Baird set a $108.00 price target on Griffon in a research report on Friday, February 6th. CJS Securities upgraded shares of Griffon to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Stephens increased their price objective on shares of Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $103.50.

Hedge Funds Weigh In On Griffon

Several hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in shares of Griffon by 149.6% in 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. Caitong International Asset Management Co. Ltd lifted its position in Griffon by 151.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock worth $32,000 after buying an additional 264 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Griffon by 8,720.0% during the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after buying an additional 436 shares during the last quarter. Huntington National Bank boosted its stake in shares of Griffon by 645.0% during the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after buying an additional 387 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Griffon in the fourth quarter valued at about $34,000. 73.22% of the stock is owned by institutional investors.

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.