Griffon Corporation (NYSE:GFF – Get Free Report) COO Robert Mehmel sold 286 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $95.66, for a total transaction of $27,358.76. Following the sale, the chief operating officer owned 790,066 shares of the company’s stock, valued at $75,577,713.56. This trade represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Griffon Stock Performance
Shares of NYSE GFF traded up $1.17 during midday trading on Tuesday, reaching $97.55. 329,366 shares of the company were exchanged, compared to its average volume of 358,094. The stock has a market cap of $4.47 billion, a P/E ratio of 750.41 and a beta of 1.42. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $98.37. The stock has a fifty day simple moving average of $89.12 and a 200 day simple moving average of $83.03. 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:GFF – Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. During the same period in the prior year, the business earned $1.23 EPS. The firm’s revenue was down 31.0% compared to the same quarter last year. On average, research analysts forecast that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.
Griffon Announces Dividend
Analyst Ratings Changes
Several research firms recently issued reports on GFF. Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Robert W. Baird set a $115.00 price objective on Griffon in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.00.
View Our Latest Research Report on GFF
Institutional Investors Weigh In On Griffon
Hedge funds and other institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. grew 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 acquiring an additional 293,278 shares during the period. SEB Asset Management AB acquired a new position in Griffon during the first quarter worth $21,070,000. Voss Capital LP raised its holdings in Griffon by 14.7% during the fourth 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 last quarter. Millennium Management LLC boosted its position in Griffon by 166.4% during the third quarter. Millennium Management LLC now owns 324,553 shares of the conglomerate’s stock worth $24,715,000 after purchasing an additional 202,714 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Griffon by 255.2% in the first quarter. Janus Henderson Group PLC now owns 241,733 shares of the conglomerate’s stock valued at $17,570,000 after purchasing an additional 173,682 shares during 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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