Insider Selling: Griffon Co. (NYSE:GFF) CEO Sells 300 Shares of Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 300 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $70.07, for a total transaction of $21,021.00. Following the transaction, the chief executive officer now owns 2,176,199 shares in the company, valued at $152,486,263.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Griffon Stock Up 1.2 %

Shares of GFF stock opened at $69.18 on Friday. The stock has a market cap of $3.43 billion, a P/E ratio of 18.25 and a beta of 1.29. Griffon Co. has a 52 week low of $38.33 and a 52 week high of $77.99. 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’s fifty day simple moving average is $65.99 and its two-hundred day simple moving average is $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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $688.94 million. During the same quarter last year, the firm earned $1.29 earnings per share. The business’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts predict that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were issued 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 0.87%. Griffon’s dividend payout ratio (DPR) is presently 15.83%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Scarborough Advisors LLC purchased a new stake in shares of Griffon during the fourth quarter valued at $35,000. Quarry LP lifted its position in shares of Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after purchasing an additional 386 shares during the period. Picton Mahoney Asset Management bought a new stake in Griffon during the 2nd quarter valued at $55,000. GAMMA Investing LLC increased its holdings in shares of Griffon by 65.1% in the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock valued at $62,000 after acquiring an additional 332 shares during the period. Finally, Plato Investment Management Ltd purchased a new position in shares of Griffon in the 1st quarter valued at $65,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

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

About Griffon

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.