Griffon Co. (NYSE:GFF) COO Robert F. Mehmel Sells 9,892 Shares of Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 9,892 shares of Griffon stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $66.69, for a total transaction of $659,697.48. Following the sale, the chief operating officer now owns 787,914 shares in the company, valued at approximately $52,545,984.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Griffon Stock Performance

Shares of NYSE:GFF opened at $67.61 on Wednesday. The firm has a fifty day simple moving average of $66.02 and a two-hundred day simple moving average of $67.37. 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 capitalization of $3.35 billion, a P/E ratio of 17.84 and a beta of 1.29.

Griffon (NYSE:GFF) last released 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 return on equity of 96.05% and a net margin of 7.27%. The company had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $688.94 million. During the same quarter in the prior year, the business posted $1.29 EPS. The company’s revenue was down 5.2% on a year-over-year basis. On average, analysts expect that Griffon Co. will post 4.87 earnings per share for the current fiscal year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Wednesday, August 28th. Griffon’s dividend payout ratio is currently 15.83%.

Institutional Trading of Griffon

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Scarborough Advisors LLC bought a new position in Griffon during the fourth quarter valued at $35,000. Quarry LP boosted its stake in shares of Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after purchasing an additional 386 shares during the period. Picton Mahoney Asset Management bought a new position in Griffon during the 2nd quarter valued at about $55,000. GAMMA Investing LLC raised its position in Griffon by 65.1% in the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 332 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in Griffon in the first quarter worth about $65,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Stephens reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Griffon in a report on Tuesday, September 10th. Finally, Robert W. Baird dropped their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus 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.