Robert Mehmel Sells 286 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 286 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $95.66, for a total transaction of $27,358.76. Following the transaction, the chief operating officer owned 790,066 shares in the company, valued at $75,577,713.56. This represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Trading Down 5.0%

Shares of NYSE:GFF opened at $92.66 on Thursday. The stock has a market capitalization of $4.25 billion, a PE ratio of 712.84 and a beta of 1.41. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $98.36. The firm has a fifty day moving average price of $89.36 and a 200 day moving average price of $83.30. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77.

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

Griffon Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on GFF. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Robert W. Baird set a $115.00 price target on shares of Griffon in a research report on Friday, May 8th. Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Institutional Investors Weigh In On Griffon

Several large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its position in shares of Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after buying an additional 211 shares during the period. Scarborough Advisors LLC bought a new stake in Griffon in the first quarter valued at $29,000. Huntington National Bank raised its stake in Griffon by 645.0% during the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in Griffon during the fourth quarter worth $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 acquiring an additional 388 shares during the period. 73.22% of the stock is currently owned by institutional investors.

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.