Griffon Co. (NYSE:GFF) COO Sells $222,211.74 in Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 3,174 shares of Griffon stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $70.01, for a total transaction of $222,211.74. Following the completion of the sale, the chief operating officer now owns 750,872 shares in the company, valued at $52,568,548.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Griffon Stock Up 0.7 %

Shares of NYSE GFF opened at $69.48 on Friday. The firm’s 50-day moving average price is $66.29 and its 200-day moving average price is $67.37. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 18.33 and a beta of 1.29. Griffon Co. has a 12-month low of $38.33 and a 12-month high of $77.99.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.07). The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. On average, equities research analysts anticipate that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 annualized dividend and a yield of 0.86%. Griffon’s payout ratio is 15.83%.

Wall Street Analyst Weigh In

GFF has been the topic of a number of research reports. StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Monday, September 23rd. Stephens reiterated an “overweight” rating and issued a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. Finally, Robert W. Baird reduced their price target on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Griffon currently has an average rating of “Buy” and an average price target of $81.50.

Hedge Funds Weigh In On Griffon

Several hedge funds have recently added to or reduced their stakes in GFF. Norges Bank bought a new position in Griffon in the 4th quarter worth about $20,531,000. Trexquant Investment LP bought a new position in Griffon in the 4th quarter worth about $787,000. Advisory Services Network LLC bought a new position in Griffon in the 4th quarter worth about $786,000. Steward Partners Investment Advisory LLC grew its stake in Griffon by 8.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 56,033 shares of the conglomerate’s stock worth $3,415,000 after acquiring an additional 4,145 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Griffon in the 4th quarter worth about $212,000. 73.22% of the stock is currently owned by institutional investors.

About Griffon

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.