Robert Mehmel Sells 5,501 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFFGet Free Report) COO Robert Mehmel sold 5,501 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $95.18, for a total value of $523,585.18. Following the completion of the sale, the chief operating officer owned 809,788 shares of the company’s stock, valued at approximately $77,075,621.84. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Performance

Shares of GFF opened at $88.96 on Thursday. 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 50-day moving average of $86.91 and a 200-day moving average of $81.94. The company has a market cap of $4.08 billion, a PE ratio of 684.36 and a beta of 1.42. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58.

Griffon (NYSE:GFFGet Free Report) last issued its earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The company had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. During the same period last year, the business posted $1.23 EPS. The firm’s revenue for the quarter was down 31.0% compared to the same quarter last year. On average, equities research analysts predict that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Robert W. Baird set a $115.00 price target on shares of Griffon in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $115.00.

Check Out Our Latest Research Report on GFF

Hedge Funds Weigh In On Griffon

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Voss Capital LP raised its holdings in shares of Griffon by 14.7% in the 4th quarter. Voss Capital LP now owns 1,760,000 shares of the conglomerate’s stock worth $129,624,000 after purchasing an additional 225,000 shares during the period. State Street Corp raised its holdings in shares of Griffon by 0.7% in the 4th quarter. State Street Corp now owns 1,535,473 shares of the conglomerate’s stock worth $113,088,000 after purchasing an additional 11,169 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Griffon by 41.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,002,513 shares of the conglomerate’s stock worth $73,835,000 after purchasing an additional 293,278 shares during the period. LSV Asset Management raised its holdings in shares of Griffon by 10.0% in the 4th quarter. LSV Asset Management now owns 867,195 shares of the conglomerate’s stock worth $63,869,000 after purchasing an additional 79,000 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in shares of Griffon by 7.7% in the 2nd quarter. Raymond James Financial Inc. now owns 719,046 shares of the conglomerate’s stock worth $52,037,000 after purchasing an additional 51,354 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

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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