Griffon Co. (NYSE:GFF) COO Robert F. Mehmel Sells 1,205 Shares

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 1,205 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $70.11, for a total transaction of $84,482.55. Following the completion of the transaction, the chief operating officer now owns 754,046 shares in the company, valued at approximately $52,866,165.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Griffon Trading Down 0.2 %

Shares of GFF opened at $69.80 on Wednesday. Griffon Co. has a fifty-two week low of $38.33 and a fifty-two week high of $77.99. The business has a 50-day moving average of $66.34 and a 200 day moving average of $67.33. The firm has a market cap of $3.46 billion, a P/E ratio of 18.42 and a beta of 1.29. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50.

Griffon (NYSE:GFF) last posted its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). The business had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. Griffon’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. As a group, research analysts forecast that Griffon Co. will post 4.87 EPS for the current year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th were given 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 dividend yield of 0.86%. Griffon’s dividend payout ratio is currently 15.83%.

Hedge Funds Weigh In On Griffon

Several hedge funds have recently made changes to their positions in GFF. Scarborough Advisors LLC bought a new position in Griffon in the 4th quarter worth about $35,000. Quarry LP lifted 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 in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Griffon in the second quarter valued at approximately $55,000. GAMMA Investing LLC grew its stake in Griffon by 65.1% during the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock valued at $62,000 after acquiring an additional 332 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in Griffon during the 1st quarter worth approximately $65,000. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird decreased their target price on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Stephens restated an “overweight” rating and set a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th. Finally, StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Monday. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Griffon has a consensus rating of “Buy” and an average target price of $81.50.

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.