Insider Selling: Griffon (NYSE:GFF) COO Sells $287,887.02 in Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,018 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $95.39, for a total transaction of $287,887.02. Following the transaction, the chief operating officer owned 803,498 shares of the company’s stock, valued at approximately $76,645,674.22. The trade was a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Up 0.1%

Shares of Griffon stock opened at $91.21 on Friday. Griffon Corporation has a 52-week low of $65.01 and a 52-week high of $97.58. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77. The company’s 50-day simple moving average is $87.59 and its 200-day simple moving average is $82.12. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 701.69 and a beta of 1.42.

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, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $414.63 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The firm’s revenue for the quarter was down 31.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. As a group, equities research analysts anticipate that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Griffon’s dividend payout ratio is 676.92%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Griffon

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its holdings in shares of Griffon by 149.6% in the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 211 shares during the period. Scarborough Advisors LLC purchased a new position in Griffon in the 1st quarter valued at approximately $29,000. Huntington National Bank raised its holdings in Griffon by 645.0% during the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in Griffon during the fourth quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Griffon by 362.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after purchasing an additional 388 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

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.