Griffon Corporation (NYSE:GFF) Given Consensus Rating of “Moderate Buy” by Analysts

Griffon Corporation (NYSE:GFFGet Free Report) has been given an average rating of “Moderate Buy” by the five analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $115.00.

Several research firms recently commented on GFF. Robert W. Baird set a $115.00 price objective on Griffon in a research report on Friday, May 8th. Wall Street Zen cut shares of 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 report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th.

Get Our Latest Research Report on Griffon

Insider Buying and Selling

In other news, COO Robert F. Mehmel sold 4,166 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $97.76, for a total transaction of $407,268.16. Following the transaction, the chief operating officer directly owned 785,900 shares of the company’s stock, valued at $76,829,584. This represents a 0.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald J. Kramer sold 100,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $94.92, for a total value of $9,492,000.00. Following the completion of the transaction, the chief executive officer owned 1,784,297 shares in the company, valued at approximately $169,365,471.24. This trade represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 129,389 shares of company stock valued at $12,309,525. 10.20% of the stock is currently owned by insiders.

Institutional Trading of Griffon

A number of hedge funds have recently bought and sold shares of GFF. Hantz Financial Services Inc. lifted its holdings in Griffon by 149.6% in 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 during the period. Scarborough Advisors LLC purchased a new position in Griffon in the first quarter worth about $29,000. Hilton Head Capital Partners LLC bought a new stake in shares of Griffon during the 4th quarter valued at about $34,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Griffon by 362.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 388 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Griffon during the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Griffon Stock Performance

Shares of GFF opened at $91.53 on Monday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 704.09 and a beta of 1.41. The business’s fifty day simple moving average is $89.47 and its two-hundred day simple moving average is $84.61. Griffon has a 12 month low of $65.01 and a 12 month high of $98.36. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77.

Griffon (NYSE:GFFGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $421.86 million during 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%.The company’s revenue was down 31.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. Research analysts anticipate that Griffon will post 5.17 earnings per share for the current fiscal year.

Griffon Announces Dividend

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

Griffon Company Profile

(Get Free Report)

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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Analyst Recommendations for Griffon (NYSE:GFF)

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