Griffon Co. (NYSE:GFF) COO Robert F. Mehmel Sells 912 Shares

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 912 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $70.06, for a total value of $63,894.72. Following the completion of the transaction, the chief operating officer now owns 746,611 shares of the company’s stock, valued at $52,307,566.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Griffon Stock Performance

Shares of GFF stock opened at $67.67 on Friday. Griffon Co. has a 52-week low of $38.33 and a 52-week 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 stock has a market cap of $3.35 billion, a PE ratio of 17.85 and a beta of 1.29. The business has a 50-day simple moving average of $66.30 and a 200-day simple moving average of $67.04.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). The company had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. On average, equities analysts expect that Griffon Co. will post 4.87 EPS for the current year.

Griffon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.60 annualized dividend and a yield of 0.89%. Griffon’s dividend payout ratio is presently 15.83%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Ritholtz Wealth Management grew its position in shares of Griffon by 5.0% during the 3rd quarter. Ritholtz Wealth Management now owns 3,913 shares of the conglomerate’s stock valued at $274,000 after acquiring an additional 187 shares during the period. Evergreen Capital Management LLC grew its holdings in Griffon by 5.3% in the second quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock valued at $256,000 after purchasing an additional 201 shares during the period. Essex Investment Management Co. LLC increased its position in shares of Griffon by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 39,526 shares of the conglomerate’s stock valued at $2,899,000 after buying an additional 213 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Griffon by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,753 shares of the conglomerate’s stock worth $1,134,000 after buying an additional 231 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Griffon by 2.2% during the 2nd quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate’s stock valued at $930,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

GFF has been the topic of a number of research reports. Robert W. Baird cut 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. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 12th. Finally, Stephens restated an “overweight” rating and set a $85.00 price objective on shares of Griffon in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Griffon currently 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.