Griffon Co. (NYSE:GFF) CEO Sells $958,710.70 in Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 13,690 shares of Griffon stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $70.03, for a total value of $958,710.70. Following the completion of the transaction, the chief executive officer now directly owns 2,181,441 shares in the company, valued at approximately $152,766,313.23. The sale was disclosed in a document filed with the SEC, which is available at this link.

Griffon Trading Down 0.3 %

Shares of GFF stock opened at $68.35 on Friday. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. The business’s 50 day moving average is $66.16 and its two-hundred day moving average is $67.35. The company has a market cap of $3.39 billion, a PE ratio of 18.03 and a beta of 1.29.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $688.94 million. During the same quarter last year, the business earned $1.29 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities analysts predict that Griffon Co. will post 4.87 EPS for the current year.

Griffon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 annualized dividend and a yield of 0.88%. Griffon’s dividend payout ratio (DPR) is currently 15.83%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GFF. Scarborough Advisors LLC acquired a new position in Griffon during the fourth quarter worth $35,000. Quarry LP raised its stake in Griffon by 98.7% during the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after acquiring an additional 386 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Griffon during the second quarter worth $55,000. GAMMA Investing LLC raised its stake in Griffon by 65.1% during the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after acquiring an additional 332 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in Griffon during the first quarter worth $65,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research note on Friday. Stephens restated an “overweight” rating and issued a $85.00 price objective on shares of Griffon in a report on Tuesday, September 10th. Finally, Robert W. Baird dropped their price objective on 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Griffon presently has a consensus rating of “Buy” and an average target price of $81.50.

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.