Insider Selling: Griffon Co. (NYSE:GFF) CEO Sells 67,164 Shares of Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 67,164 shares of Griffon stock in a transaction on Monday, November 11th. The stock was sold at an average price of $70.08, for a total value of $4,706,853.12. Following the sale, the chief executive officer now owns 2,102,503 shares in the company, valued at $147,343,410.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Griffon Price Performance

GFF stock traded up $12.39 during mid-day trading on Wednesday, reaching $80.51. 1,814,136 shares of the company traded hands, compared to its average volume of 432,144. Griffon Co. has a 52-week low of $44.03 and a 52-week high of $80.85. The company has a market capitalization of $3.97 billion, a P/E ratio of 20.92 and a beta of 1.31. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The company has a fifty day moving average price of $66.68 and a 200-day moving average price of $66.60.

Griffon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.89%. This is a boost from Griffon’s previous quarterly dividend of $0.15. Griffon’s dividend payout ratio (DPR) is presently 16.09%.

Analysts Set New Price Targets

Several analysts have commented on GFF shares. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird increased their price objective on Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Stephens restated an “overweight” rating and issued a $85.00 target price on shares of Griffon in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Griffon currently has a consensus rating of “Buy” and a consensus target price of $83.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFF. Quarry LP increased its holdings in shares of Griffon by 98.7% in the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after buying an additional 386 shares during the period. Picton Mahoney Asset Management purchased a new position in Griffon during the second quarter valued at $55,000. Plato Investment Management Ltd bought a new stake in Griffon in the first quarter worth $65,000. DekaBank Deutsche Girozentrale purchased a new stake in Griffon during the 2nd quarter valued at about $70,000. Finally, GAMMA Investing LLC increased its stake in Griffon by 56.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock valued at $79,000 after purchasing an additional 411 shares in the last quarter. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

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.