Griffon Co. (NYSE:GFF) COO Sells $1,011,933.84 in Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 15,108 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.98, for a total value of $1,011,933.84. Following the sale, the chief operating officer now directly owns 797,806 shares of the company’s stock, valued at approximately $53,437,045.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Griffon Trading Up 0.7 %

NYSE GFF traded up $0.47 during trading on Tuesday, hitting $67.61. The stock had a trading volume of 375,638 shares, compared to its average volume of 431,479. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. The company has a market capitalization of $3.35 billion, a PE ratio of 17.89 and a beta of 1.29. The firm has a 50 day moving average price of $66.02 and a 200 day moving average price of $67.37. Griffon Co. has a twelve month low of $38.33 and a twelve month high of $77.99.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a return on equity of 96.05% and a net margin of 7.27%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. Griffon’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 earnings per share. As a group, equities research analysts forecast that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.89%. Griffon’s dividend payout ratio (DPR) is presently 15.83%.

Institutional Investors Weigh In On Griffon

Several large investors have recently bought and sold shares of the stock. Scarborough Advisors LLC purchased a new position in shares of Griffon in the 4th quarter valued at about $35,000. Quarry LP raised its holdings in Griffon by 98.7% in the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after acquiring an additional 386 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in Griffon in the second quarter worth approximately $55,000. GAMMA Investing LLC grew its holdings in Griffon by 65.1% during the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after acquiring an additional 332 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in shares of Griffon in the 1st quarter valued at approximately $65,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GFF. Stephens reissued an “overweight” rating and set a $85.00 price objective on shares of Griffon in a research report on Tuesday, September 10th. Robert W. Baird dropped their price target on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com lowered shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $81.50.

Griffon Company Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.