Robert Mehmel Sells 4,166 Shares of Griffon (NYSE:GFF) Stock

Griffon Corporation (NYSE:GFF) COO Robert Mehmel sold 4,166 shares of Griffon stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $97.76, for a total value of $407,268.16. Following the completion of the transaction, the chief operating officer directly owned 785,900 shares of the company’s stock, valued at $76,829,584. This represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Down 0.1%

Shares of NYSE GFF opened at $92.74 on Friday. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $98.36. The firm’s 50-day simple moving average is $89.44 and its 200 day simple moving average is $83.48. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 713.45 and a beta of 1.41.

Griffon (NYSE:GFF) last posted its quarterly earnings data 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 net margin of 0.31% and a return on equity of 298.42%. The firm had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $414.63 million. During the same quarter last year, the company posted $1.23 EPS. The company’s quarterly revenue was down 31.0% compared to the same quarter last year. On average, research analysts expect that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders 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 0.9%. The ex-dividend date of this dividend was Friday, May 29th. Griffon’s dividend payout ratio is 676.92%.

Institutional Investors Weigh In On Griffon

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

Wall Street Analysts Forecast Growth

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

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.