Griffon Corporation (NYSE:GFF – Get Free Report) COO Robert Mehmel sold 547 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $95.37, for a total value of $52,167.39. Following the transaction, the chief operating officer owned 802,951 shares in the company, valued at approximately $76,577,436.87. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Griffon Stock Performance
NYSE:GFF opened at $91.21 on Friday. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 701.69 and a beta of 1.42. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $97.58. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. The stock has a fifty day moving average price of $87.59 and a 200-day moving average price of $82.12.
Griffon (NYSE:GFF – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $421.86 million for the quarter, compared to analysts’ expectations of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.Griffon’s revenue was down 31.0% on a year-over-year basis. During the same quarter last year, the business earned $1.23 earnings per share. As a group, equities analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.
Griffon Dividend Announcement
Wall Street Analyst Weigh In
GFF has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Robert W. Baird set a $115.00 price target on Griffon in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.
Check Out Our Latest Stock Report on Griffon
Hedge Funds Weigh In On Griffon
Institutional investors have recently added to or reduced their stakes in the stock. Voss Capital LP grew its position in Griffon by 13.7% during the 3rd quarter. Voss Capital LP now owns 1,535,000 shares of the conglomerate’s stock worth $116,890,000 after acquiring an additional 185,000 shares during the last quarter. SG Americas Securities LLC increased its holdings in Griffon by 396.8% in the 4th quarter. SG Americas Securities LLC now owns 66,088 shares of the conglomerate’s stock worth $4,867,000 after purchasing an additional 52,786 shares in the last quarter. MHR Fund Management LLC bought a new position in Griffon in the third quarter valued at about $9,519,000. Moran Wealth Management LLC raised its position in Griffon by 97.4% in the fourth quarter. Moran Wealth Management LLC now owns 52,258 shares of the conglomerate’s stock valued at $3,849,000 after purchasing an additional 25,790 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Griffon by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 427,674 shares of the conglomerate’s stock valued at $32,567,000 after purchasing an additional 25,681 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.
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.
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