Robert Mehmel Sells 7,873 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 7,873 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $96.02, for a total value of $755,965.46. Following the completion of the transaction, the chief operating officer owned 790,352 shares of the company’s stock, valued at approximately $75,889,599.04. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Price Performance

Shares of GFF stock opened at $96.56 on Friday. The business’s fifty day moving average is $88.87 and its 200 day moving average is $82.80. 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 stock has a market cap of $4.43 billion, a price-to-earnings ratio of 742.86 and a beta of 1.42. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $97.70.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was down 31.0% on a year-over-year basis. Research analysts expect that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on GFF. Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings downgraded Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Robert W. Baird set a $115.00 price objective on Griffon in a research note on Friday, May 8th. One investment 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 stock. According to MarketBeat.com, Griffon has an average rating of “Moderate Buy” and an average price target of $115.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its position in shares of Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC purchased a new position in Griffon in the 1st quarter worth approximately $29,000. Huntington National Bank lifted its position in Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Griffon during the 4th quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Griffon by 362.6% in the 4th 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 owned by hedge funds and other 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.