Griffon (NYSE:GFF) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Griffon Corporation (NYSE:GFF) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $84.25 and traded as high as $92.47. Griffon shares last traded at $90.8230, with a volume of 248,602 shares changing hands.

Analyst Ratings Changes

GFF has been the subject of a number of research reports. Robert W. Baird set a $115.00 price objective on shares of Griffon in a report on Friday, May 8th. Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.00.

Griffon Price Performance

The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 698.69 and a beta of 1.41. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. The business has a 50-day moving average price of $89.36 and a two-hundred day moving average price of $84.25.

Griffon (NYSE:GFF) last released its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $421.86 million during the quarter, compared to analyst estimates of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business’s revenue for the quarter was down 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 EPS. As a group, research analysts forecast that Griffon Corporation will post 5.17 EPS for the current year.

Griffon Dividend Announcement

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

Insider Buying and Selling at Griffon

In related news, COO Robert F. Mehmel sold 7,873 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $96.02, for a total value of $755,965.46. Following the sale, the chief operating officer owned 790,352 shares of the company’s stock, valued at $75,889,599.04. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $94.92, for a total transaction of $9,492,000.00. Following the completion of the sale, the chief executive officer owned 1,784,297 shares in the company, valued at approximately $169,365,471.24. This represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 129,389 shares of company stock valued at $12,309,525. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in shares of Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 211 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Griffon during the first quarter worth approximately $29,000. Hilton Head Capital Partners LLC bought a new position in Griffon in the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd grew its holdings in 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 buying an additional 388 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in Griffon in the 2nd quarter valued at approximately $37,000. Institutional investors own 73.22% of the company’s stock.

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.