Griffon (NYSE:GFF) COO Sells $407,268.16 in Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 4,166 shares of the 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 transaction, the chief operating officer owned 785,900 shares in the company, valued at $76,829,584. This trade represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Down 0.1%

Shares of NYSE GFF opened at $92.74 on Friday. The stock has a market capitalization of $4.25 billion, a P/E ratio of 713.45 and a beta of 1.41. Griffon Corporation has a one year low of $65.01 and a one year high of $98.36. The firm’s 50 day simple moving average is $89.44 and its two-hundred day simple moving average is $83.48. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43.

Griffon (NYSE:GFF) last announced 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 company 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 was down 31.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. As a group, analysts expect that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 29th. Griffon’s payout ratio is 676.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC increased its stake in shares of Griffon by 3.4% during the fourth quarter. Corient Private Wealth LLC now owns 3,546 shares of the conglomerate’s stock valued at $261,000 after buying an additional 115 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Griffon by 1.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate’s stock worth $759,000 after acquiring an additional 132 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Griffon by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock valued at $658,000 after acquiring an additional 136 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Griffon by 30.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 585 shares of the conglomerate’s stock valued at $43,000 after purchasing an additional 137 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Griffon by 33.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 142 shares during the period. Institutional investors own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GFF shares. Wall Street Zen cut Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings lowered shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 price target on shares of Griffon in a research report on Friday, May 8th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

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.