Robert Mehmel Sells 6,639 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 6,639 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $104.34, for a total transaction of $692,713.26. Following the completion of the transaction, the chief operating officer owned 726,272 shares in the company, valued at approximately $75,779,220.48. The trade was a 0.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Up 1.9%

Griffon stock traded up $2.01 during trading hours on Tuesday, reaching $106.81. 307,510 shares of the company’s stock were exchanged, compared to its average volume of 352,639. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. The firm’s 50 day simple moving average is $92.31 and its 200 day simple moving average is $86.24. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $108.57. The firm has a market capitalization of $4.84 billion, a PE ratio of 27.25 and a beta of 1.44.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. Griffon had a return on equity of 249.31% and a net margin of 8.08%.The company had revenue of $481.37 million for the quarter, compared to the consensus estimate of $457.70 million. During the same period in the previous year, the business earned $1.50 EPS. The firm’s revenue was down 21.5% compared to the same quarter last year. Research analysts predict that Griffon Corporation will post 5.33 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Griffon’s payout ratio is presently 22.45%.

Institutional Investors Weigh In On Griffon

Hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its holdings in shares of Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares in the last quarter. 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 shares of Griffon in the 4th quarter worth $34,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 purchasing 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 $37,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GFF. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Robert W. Baird set a $125.00 target price on shares of Griffon in a research report on Thursday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Griffon in a research note on Friday. Stephens raised their price target on shares of Griffon from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Zacks Research raised shares of Griffon from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $122.50.

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.