Victor Eugene Renuart Sells 767 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) Director Victor Eugene Renuart sold 767 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $32.73, for a total value of $25,103.91. Following the completion of the sale, the director now directly owns 23,812 shares in the company, valued at $779,366.76. This represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Victor Eugene Renuart also recently made the following trade(s):

• On Tuesday, November 26th, Victor Eugene Renuart sold 4,500 shares of Griffon stock. The shares were sold at an average price of $84.46, for a total value of $380,070.00.

Griffon Trading Up 0.9 %

GFF stock traded up $0.79 during mid-day trading on Friday, reaching $84.30. 205,642 shares of the stock traded hands, compared to its average volume of 439,414. The stock’s fifty day moving average is $70.30 and its 200-day moving average is $67.54. The company has a market cap of $4.03 billion, a P/E ratio of 19.93 and a beta of 1.31. The company has a current ratio of 2.66, a quick ratio of 1.44 and a debt-to-equity ratio of 6.74. Griffon Co. has a 52-week low of $45.70 and a 52-week high of $86.73.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, November 13th. The conglomerate reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.29. The firm had revenue of $659.70 million for the quarter, compared to analysts’ expectations of $641.24 million. Griffon had a net margin of 8.00% and a return on equity of 108.70%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. As a group, sell-side analysts expect that Griffon Co. will post 5.57 earnings per share for the current year.

Griffon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, November 25th. This is a positive change from Griffon’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a yield of 0.85%. Griffon’s dividend payout ratio (DPR) is presently 17.02%.

Griffon announced that its board has initiated a share repurchase program on Wednesday, November 13th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the conglomerate to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Griffon

Several institutional investors have recently made changes to their positions in GFF. Raymond James Trust N.A. increased its stake in Griffon by 5.1% in the 3rd quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate’s stock valued at $244,000 after buying an additional 168 shares during the period. Ritholtz Wealth Management increased its stake in shares of Griffon by 5.0% in the third quarter. Ritholtz Wealth Management now owns 3,913 shares of the conglomerate’s stock worth $274,000 after acquiring an additional 187 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Griffon by 5.3% during the second quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock worth $256,000 after acquiring an additional 201 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Griffon by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 17,753 shares of the conglomerate’s stock valued at $1,134,000 after purchasing an additional 231 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in Griffon by 2.2% in the second quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate’s stock valued at $930,000 after purchasing an additional 311 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GFF has been the subject of several research reports. StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 23rd. Robert W. Baird raised their target price on shares of Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Stephens increased their price objective on Griffon from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $89.25.

Griffon Company Profile

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.