Griffon (NYSE:GFF) CEO Ronald Kramer Sells 100,000 Shares of Stock

Griffon Corporation (NYSE:GFF) CEO Ronald Kramer sold 100,000 shares of Griffon stock in a transaction that occurred on 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 transaction, the chief executive officer owned 1,784,297 shares of the company’s stock, valued at $169,365,471.24. The trade was a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Griffon Price Performance

GFF stock opened at $94.68 on Tuesday. Griffon Corporation has a 52-week low of $65.01 and a 52-week high of $97.58. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 728.36 and a beta of 1.42. The firm has a 50 day moving average price of $86.11 and a 200-day moving average price of $81.71. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86.

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

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, May 29th. Griffon’s payout ratio is presently 676.92%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Griffon

Institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its holdings in 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 purchasing an additional 211 shares during the period. Scarborough Advisors LLC bought a new position in Griffon in the 1st quarter worth $29,000. Huntington National Bank raised its holdings in Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 387 shares during the period. Hilton Head Capital Partners LLC bought a new position in Griffon in the 4th quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd boosted 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 during the period. 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.