Griffon (NYSE:GFF) COO Robert Mehmel Sells 547 Shares

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 547 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $95.37, for a total transaction of $52,167.39. Following the transaction, the chief operating officer directly owned 802,951 shares of the company’s stock, valued at approximately $76,577,436.87. This trade represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Up 2.7%

NYSE GFF opened at $91.21 on Friday. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. The stock has a market capitalization of $4.18 billion, a PE ratio of 701.69 and a beta of 1.42. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $97.58. The business’s 50-day moving average is $87.28 and its 200 day moving average is $82.06.

Griffon (NYSE:GFF) last released its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted $1.23 EPS. Griffon’s quarterly revenue was down 31.0% compared to the same quarter last year. Sell-side analysts forecast that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Announces Dividend

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

Institutional Investors Weigh In On Griffon

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC lifted its holdings 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 purchasing an additional 115 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Griffon by 1.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate’s stock worth $759,000 after buying an additional 132 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Griffon by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate’s stock valued at $658,000 after buying 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 buying an additional 137 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Griffon by 33.0% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.