Griffon (NYSE:GFF) COO Robert Mehmel Sells 3,018 Shares

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 3,018 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $95.39, for a total value of $287,887.02. Following the completion of the transaction, the chief operating officer directly owned 803,498 shares of the company’s stock, valued at approximately $76,645,674.22. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Up 2.7%

Shares of NYSE GFF opened at $91.21 on Friday. The business has a fifty day moving average price of $87.28 and a 200 day moving average price of $82.06. Griffon Corporation has a 1-year low of $65.01 and a 1-year high of $97.58. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. The stock has a market capitalization of $4.18 billion, a P/E ratio of 701.69 and a beta of 1.42.

Griffon (NYSE:GFF) last announced its earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The firm’s revenue was down 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. Equities research analysts expect that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 29th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, May 29th. Griffon’s payout ratio is 676.92%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GFF. Robert W. Baird set a $115.00 target price on shares of Griffon in a research note on Friday, May 8th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. One equities research 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 stock. According to data from MarketBeat, Griffon has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Institutional Trading of Griffon

Institutional investors have recently bought and sold shares of the stock. Voss Capital LP grew its stake in shares of Griffon by 13.7% during the 3rd quarter. Voss Capital LP now owns 1,535,000 shares of the conglomerate’s stock worth $116,890,000 after purchasing an additional 185,000 shares during the period. SG Americas Securities LLC increased its holdings in shares of Griffon by 396.8% during the 4th quarter. SG Americas Securities LLC now owns 66,088 shares of the conglomerate’s stock valued at $4,867,000 after purchasing an additional 52,786 shares in the last quarter. MHR Fund Management LLC acquired a new position in shares of Griffon in the 3rd quarter valued at $9,519,000. Moran Wealth Management LLC boosted its holdings in Griffon by 97.4% during the fourth quarter. Moran Wealth Management LLC now owns 52,258 shares of the conglomerate’s stock worth $3,849,000 after buying an additional 25,790 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Griffon by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 427,674 shares of the conglomerate’s stock worth $32,567,000 after buying an additional 25,681 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

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.