Ronald J. Kramer Sells 39,247 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 39,247 shares of Griffon stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $70.03, for a total transaction of $2,748,467.41. Following the transaction, the chief executive officer now owns 2,221,499 shares in the company, valued at approximately $155,571,574.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Griffon Trading Down 0.2 %

Shares of GFF stock opened at $69.80 on Wednesday. Griffon Co. has a fifty-two week low of $38.33 and a fifty-two week high of $77.99. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50. The stock has a 50 day simple moving average of $66.34 and a two-hundred day simple moving average of $67.33. The company has a market cap of $3.46 billion, a P/E ratio of 18.42 and a beta of 1.29.

Griffon (NYSE:GFF) last released its 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 for 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 firm’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 EPS. Research analysts forecast that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. Griffon’s dividend payout ratio is presently 15.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GFF shares. Robert W. Baird reduced their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Stephens reiterated an “overweight” rating and issued a $85.00 target price on shares of Griffon in a report on Tuesday, September 10th. Finally, StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Monday. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $81.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Griffon during the fourth quarter worth $35,000. Quarry LP increased its position in shares of 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 stake in shares of Griffon in the 2nd quarter worth about $55,000. GAMMA Investing LLC lifted its position in Griffon by 65.1% in the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock valued at $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 1st quarter valued at about $65,000. 73.22% of the stock is owned by institutional investors and hedge funds.

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.