Robert F. Mehmel Sells 3,265 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 3,265 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $70.04, for a total value of $228,680.60. Following the transaction, the chief operating officer now owns 747,607 shares of the company’s stock, valued at $52,362,394.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Griffon Trading Down 0.3 %

Shares of GFF opened at $68.35 on Friday. The firm has a market cap of $3.39 billion, a P/E ratio of 18.03 and a beta of 1.29. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. Griffon Co. has a 1 year low of $38.33 and a 1 year high of $77.99. The company has a 50 day simple moving average of $66.16 and a two-hundred day simple moving average of $67.35.

Griffon (NYSE:GFF) last posted 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). The company had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 earnings per share. On average, equities analysts expect that Griffon Co. will post 4.87 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were given a $0.15 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.88%. Griffon’s dividend payout ratio is currently 15.83%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GFF shares. Stephens reaffirmed an “overweight” rating and set a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Robert W. Baird cut their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $81.50.

Hedge Funds Weigh In On Griffon

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Griffon during the 4th quarter worth approximately $20,531,000. Capstone Investment Advisors LLC bought a new position in Griffon during the fourth quarter valued at $212,000. Campbell & CO Investment Adviser LLC grew its stake in shares of Griffon by 46.5% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 10,650 shares of the conglomerate’s stock worth $649,000 after buying an additional 3,380 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Griffon in the 4th quarter worth about $1,830,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Griffon during the 4th quarter valued at about $4,206,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

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.