Griffon (NYSE:GFF) COO Robert Mehmel Sells 3,272 Shares

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,272 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $95.40, for a total value of $312,148.80. Following the completion of the sale, the chief operating officer directly owned 806,516 shares in the company, valued at $76,941,626.40. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Performance

Shares of GFF opened at $94.17 on Wednesday. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. Griffon Corporation has a one year low of $65.01 and a one year high of $97.58. The company has a 50-day simple moving average of $86.57 and a two-hundred day simple moving average of $81.85. The firm has a market capitalization of $4.32 billion, a PE ratio of 724.46 and a beta of 1.42.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The business had revenue of $421.86 million during the quarter, compared to analyst estimates of $414.63 million. During the same period last year, the business posted $1.23 earnings per share. Griffon’s quarterly revenue was down 31.0% compared to the same quarter last year. On average, analysts anticipate that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be issued a $0.22 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.88 annualized dividend and a yield of 0.9%. Griffon’s dividend payout ratio (DPR) is 676.92%.

Hedge Funds Weigh In On Griffon

Large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its holdings in shares of Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 211 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Griffon during the first quarter valued at approximately $29,000. Huntington National Bank lifted its holdings in shares of Griffon by 645.0% during the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Griffon during the fourth quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Griffon by 362.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 388 shares during the last quarter. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on GFF shares. Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Robert W. Baird set a $115.00 price objective on shares of Griffon in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Griffon Company Profile

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.