Cheryl Turnbull Sells 3,000 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) Director Cheryl Turnbull sold 3,000 shares of Griffon stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $106.12, for a total value of $318,360.00. Following the transaction, the director owned 30,039 shares in the company, valued at $3,187,738.68. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Griffon Stock Performance

NYSE:GFF traded down $1.80 during mid-day trading on Friday, hitting $104.17. 260,298 shares of the company traded hands, compared to its average volume of 352,680. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. The stock’s fifty day moving average price is $93.51 and its 200-day moving average price is $86.69. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 26.57 and a beta of 1.44. Griffon Corporation has a one year low of $65.01 and a one year high of $108.57.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 EPS for the quarter, topping the consensus estimate of $1.34 by $0.17. Griffon had a return on equity of 249.31% and a net margin of 8.08%.The firm had revenue of $481.37 million for the quarter, compared to the consensus estimate of $457.70 million. During the same quarter last year, the company earned $1.50 earnings per share. The business’s revenue for the quarter was down 21.5% compared to the same quarter last year. Research analysts anticipate that Griffon Corporation will post 5.41 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Griffon’s dividend payout ratio is currently 22.45%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its stake in Griffon by 149.6% in the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 211 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Griffon during the first quarter valued at approximately $29,000. Hilton Head Capital Partners LLC bought a new stake in shares of Griffon during the fourth quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Griffon by 362.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after buying an additional 388 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Griffon in the second quarter worth $37,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GFF has been the topic of several analyst reports. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research raised shares of Griffon from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Stephens raised their price objective on shares of Griffon from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Griffon in a research note on Friday, August 7th. Finally, Robert W. Baird set a $125.00 target price on shares of Griffon in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $122.50.

About Griffon

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.