Insider Selling: Griffon Co. (NYSE:GFF) COO Sells 9,892 Shares of Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 9,892 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $66.69, for a total value of $659,697.48. Following the transaction, the chief operating officer now directly owns 787,914 shares in the company, valued at approximately $52,545,984.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Griffon Price Performance

Shares of Griffon stock traded up $0.47 on Tuesday, hitting $67.61. The company had a trading volume of 375,638 shares, compared to its average volume of 431,479. Griffon Co. has a 52 week low of $38.33 and a 52 week high of $77.99. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The company has a market cap of $3.35 billion, a PE ratio of 17.84 and a beta of 1.29. The business has a 50-day simple moving average of $66.02 and a 200-day simple moving average of $67.37.

Griffon (NYSE:GFF) last released its quarterly 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). The company had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 EPS. Research analysts expect that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Announces Dividend

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

Analyst Ratings Changes

GFF has been the topic of several recent research reports. StockNews.com lowered Griffon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Stephens reiterated an “overweight” rating and issued a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. Finally, Robert W. Baird cut their target price on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock 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 stock. According to MarketBeat, Griffon has an average rating of “Buy” and a consensus price target of $81.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. lifted its stake in shares of Griffon by 6.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 270,805 shares of the conglomerate’s stock valued at $17,294,000 after purchasing an additional 16,740 shares during the last quarter. Quarry LP boosted its stake in shares of Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after acquiring an additional 386 shares in the last quarter. Algert Global LLC increased its holdings in shares of Griffon by 94.3% during the 2nd quarter. Algert Global LLC now owns 128,870 shares of the conglomerate’s stock valued at $8,230,000 after acquiring an additional 62,559 shares during the last quarter. Barington Capital Group L.P. raised its stake in shares of Griffon by 50.0% in the 2nd quarter. Barington Capital Group L.P. now owns 30,000 shares of the conglomerate’s stock valued at $1,916,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Caxton Associates LP lifted its holdings in Griffon by 14.0% in the 2nd quarter. Caxton Associates LP now owns 36,687 shares of the conglomerate’s stock worth $2,343,000 after purchasing an additional 4,498 shares during the last quarter. Institutional investors and hedge funds 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.