Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer Sells 241,757 Shares

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 241,757 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $75.35, for a total transaction of $18,216,389.95. Following the completion of the sale, the chief executive officer now directly owns 1,860,746 shares in the company, valued at approximately $140,207,211.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Griffon Stock Up 18.2 %

NYSE:GFF traded up $12.39 on Wednesday, reaching $80.51. 1,814,136 shares of the stock traded hands, compared to its average volume of 432,144. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 20.92 and a beta of 1.31. Griffon Co. has a 12 month low of $44.03 and a 12 month high of $80.85. 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 company’s fifty day simple moving average is $66.68 and its 200 day simple moving average is $66.60.

Griffon Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GFF. BNP Paribas Financial Markets lifted its holdings in shares of Griffon by 6.6% in the third quarter. BNP Paribas Financial Markets now owns 39,761 shares of the conglomerate’s stock worth $2,783,000 after buying an additional 2,453 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Griffon by 430.9% during the third quarter. Quantbot Technologies LP now owns 23,897 shares of the conglomerate’s stock valued at $1,673,000 after buying an additional 19,396 shares during the period. FMR LLC lifted its position in shares of Griffon by 33.9% during the third quarter. FMR LLC now owns 76,213 shares of the conglomerate’s stock worth $5,335,000 after purchasing an additional 19,291 shares during the last quarter. Citigroup Inc. increased its position in shares of Griffon by 109.6% during the third quarter. Citigroup Inc. now owns 63,122 shares of the conglomerate’s stock worth $4,419,000 after acquiring an additional 33,002 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in shares of Griffon by 5.1% in the 3rd quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate’s stock worth $244,000 after buying an additional 168 shares during the period. Institutional investors own 73.22% of the company’s stock.

Analyst Ratings Changes

GFF has been the topic of a number of analyst reports. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 7th. Stephens reissued an “overweight” rating and set a $85.00 price objective on shares of Griffon in a research note on Tuesday, September 10th. Finally, Robert W. Baird raised their price objective on shares of Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $83.50.

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.