Griffon (NYSE:GFF) COO Robert Mehmel Sells 5,501 Shares

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 5,501 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $95.18, for a total value of $523,585.18. Following the sale, the chief operating officer owned 809,788 shares in the company, valued at $77,075,621.84. This represents a 0.67% decrease in their position. The sale 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 Price Performance

GFF stock traded down $0.56 during midday trading on Tuesday, reaching $94.17. 327,681 shares of the stock were exchanged, compared to its average volume of 344,229. The stock has a market capitalization of $4.32 billion, a PE ratio of 724.46 and a beta of 1.42. Griffon Corporation has a 52 week low of $65.01 and a 52 week 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 company has a fifty day moving average price of $86.11 and a 200 day moving average price of $81.71.

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

Griffon Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Voss Capital LP lifted its stake in shares of Griffon by 14.7% in the 4th quarter. Voss Capital LP now owns 1,760,000 shares of the conglomerate’s stock valued at $129,624,000 after purchasing an additional 225,000 shares during the period. State Street Corp lifted its stake in shares of Griffon by 0.7% in the 4th quarter. State Street Corp now owns 1,535,473 shares of the conglomerate’s stock valued at $113,088,000 after purchasing an additional 11,169 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Griffon by 41.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,002,513 shares of the conglomerate’s stock valued at $73,835,000 after purchasing an additional 293,278 shares during the period. LSV Asset Management raised its stake in Griffon by 10.0% during the 4th quarter. LSV Asset Management now owns 867,195 shares of the conglomerate’s stock worth $63,869,000 after buying an additional 79,000 shares during the period. Finally, Raymond James Financial Inc. raised its stake in Griffon by 7.7% during the 2nd quarter. Raymond James Financial Inc. now owns 719,046 shares of the conglomerate’s stock worth $52,037,000 after buying an additional 51,354 shares during the period. 73.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GFF has been the topic of several recent research reports. Robert W. Baird set a $115.00 target price on Griffon in a report on Friday, May 8th. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Finally, Weiss Ratings downgraded 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.