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

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

Griffon Stock Down 0.6 %

Griffon stock traded down $0.41 during trading on Friday, reaching $67.67. 320,213 shares of the company’s stock were exchanged, compared to its average volume of 427,709. The company’s 50-day moving average is $66.30 and its two-hundred day moving average is $67.04. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50. Griffon Co. has a 52-week low of $38.33 and a 52-week high of $77.99. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 17.85 and a beta of 1.29.

Griffon (NYSE:GFF) last posted 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 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%. Griffon’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. On average, analysts predict 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 given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. Griffon’s payout ratio is currently 15.83%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GFF shares. Robert W. Baird cut their price target on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 12th. Finally, Stephens restated an “overweight” rating and set a $85.00 price target 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $81.50.

Institutional Investors Weigh In On Griffon

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

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.