Griffon Co. (NYSE:GFF) Director Sells $809,055.00 in Stock

Griffon Co. (NYSE:GFF) Director Kevin F. Sullivan sold 12,447 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total transaction of $809,055.00. Following the transaction, the director now directly owns 50,390 shares of the company’s stock, valued at $3,275,350. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Griffon Price Performance

Shares of NYSE:GFF traded up $2.67 during trading on Friday, reaching $66.96. The company had a trading volume of 382,833 shares, compared to its average volume of 434,520. Griffon Co. has a twelve month low of $38.33 and a twelve month high of $77.99. The company has a debt-to-equity ratio of 7.80, a quick ratio of 1.56 and a current ratio of 2.78. The firm has a market capitalization of $3.32 billion, a PE ratio of 16.96 and a beta of 1.29. The firm’s fifty day moving average is $65.87 and its 200 day moving average is $67.69.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). Griffon had a return on equity of 90.02% and a net margin of 7.48%. The firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. During the same quarter last year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities analysts forecast that Griffon Co. will post 5 EPS for the current year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Wednesday, August 28th. Griffon’s payout ratio is currently 15.83%.

Institutional Investors Weigh In On Griffon

Institutional investors and hedge funds have recently bought and sold shares of the business. LSV Asset Management grew its stake in shares of Griffon by 486.0% in the 1st quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock worth $66,834,000 after purchasing an additional 755,773 shares during the last quarter. Norges Bank acquired a new stake in shares of Griffon during the 4th quarter valued at $20,531,000. Boston Partners bought a new stake in shares of Griffon during the 4th quarter worth $16,829,000. Lodge Hill Capital LLC grew its holdings in shares of Griffon by 190.3% in the 2nd quarter. Lodge Hill Capital LLC now owns 251,700 shares of the conglomerate’s stock worth $16,074,000 after acquiring an additional 165,000 shares during the last quarter. Finally, ABS Direct Equity Fund LLC acquired a new stake in shares of Griffon during the fourth quarter worth $9,403,000. 73.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com downgraded Griffon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird reduced their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Griffon presently has a consensus rating of “Buy” and an average price target of $80.33.

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.