Griffon Co. (NYSE:GFF) CFO Brian G. Harris Sells 13,314 Shares of Stock

Griffon Co. (NYSE:GFF) CFO Brian G. Harris sold 13,314 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.10, for a total value of $880,055.40. Following the transaction, the chief financial officer now directly owns 199,748 shares in the company, valued at approximately $13,203,342.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Griffon Stock Performance

Shares of GFF stock opened at $67.61 on Wednesday. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. Griffon Co. has a 12-month low of $38.33 and a 12-month high of $77.99. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 17.84 and a beta of 1.29. The stock has a 50 day simple moving average of $66.02 and a 200-day simple moving average of $67.37.

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

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.89%. Griffon’s dividend payout ratio (DPR) is presently 15.83%.

Institutional Investors Weigh In On Griffon

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Griffon by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock worth $432,954,000 after purchasing an additional 38,707 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Griffon by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,379,000 shares of the conglomerate’s stock valued at $88,066,000 after buying an additional 19,644 shares in the last quarter. LSV Asset Management raised its stake in shares of Griffon by 486.0% during the 1st quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock worth $66,834,000 after buying an additional 755,773 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Griffon by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 631,851 shares of the conglomerate’s stock worth $40,350,000 after buying an additional 55,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Griffon by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 522,741 shares of the conglomerate’s stock valued at $31,861,000 after acquiring an additional 2,131 shares during the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GFF shares. Stephens reiterated an “overweight” rating and issued a $85.00 target price on shares of Griffon in a research note on Tuesday, September 10th. Robert W. Baird lowered their price objective on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.