Griffon Corporation (NYSE:GFF) Receives $115.00 Average Price Target from Analysts

Griffon Corporation (NYSE:GFF) has been given a consensus recommendation of “Moderate Buy” by the four brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $115.00.

Several brokerages have recently issued reports on GFF. Robert W. Baird set a $115.00 price objective on Griffon in a research report on Friday, May 8th. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th.

Insider Activity at Griffon

In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $94.92, for a total value of $9,492,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,784,297 shares in the company, valued at approximately $169,365,471.24. The trade was a 5.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert F. Mehmel sold 4,166 shares of Griffon stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $97.76, for a total value of $407,268.16. Following the completion of the sale, the chief operating officer owned 785,900 shares of the company’s stock, valued at $76,829,584. This trade represents a 0.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 129,389 shares of company stock valued at $12,309,525 over the last ninety days. 10.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Griffon

Several institutional investors and hedge funds have recently bought and sold shares of GFF. GAMMA Investing LLC grew its holdings in shares of Griffon by 12.1% during the 2nd quarter. GAMMA Investing LLC now owns 3,046 shares of the conglomerate’s stock worth $297,000 after purchasing an additional 328 shares during the period. NewEdge Advisors LLC lifted its position in Griffon by 2.2% during the first quarter. NewEdge Advisors LLC now owns 7,576 shares of the conglomerate’s stock valued at $551,000 after buying an additional 164 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in Griffon by 5.4% during the first quarter. Segall Bryant & Hamill LLC now owns 341,458 shares of the conglomerate’s stock valued at $24,817,000 after buying an additional 17,581 shares in the last quarter. Bank of America Corp DE grew its stake in Griffon by 8.3% during the first quarter. Bank of America Corp DE now owns 164,673 shares of the conglomerate’s stock worth $11,968,000 after buying an additional 12,642 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Griffon by 255.2% during the first quarter. Janus Henderson Group PLC now owns 241,733 shares of the conglomerate’s stock worth $17,570,000 after buying an additional 173,682 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Griffon Trading Up 1.9%

Shares of GFF stock opened at $90.62 on Monday. The stock has a market cap of $4.16 billion, a P/E ratio of 697.11 and a beta of 1.41. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77. Griffon has a fifty-two week low of $65.01 and a fifty-two week high of $98.36. The business has a fifty day simple moving average of $90.01 and a 200-day simple moving average of $85.07.

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

Griffon Announces Dividend

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

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.