Griffon Co. (NYSE:GFF) COO Robert F. Mehmel Sells 8,697 Shares

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 8,697 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $70.10, for a total value of $609,659.70. Following the sale, the chief operating officer now owns 737,914 shares of the company’s stock, valued at approximately $51,727,771.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Griffon Price Performance

NYSE:GFF traded up $12.39 during mid-day trading on Wednesday, reaching $80.51. 1,814,136 shares of the stock were exchanged, compared to its average volume of 432,144. The business has a fifty day moving average price of $66.68 and a 200 day moving average price of $66.60. The firm has a market capitalization of $3.97 billion, a PE ratio of 20.92 and a beta of 1.31. Griffon Co. has a 1-year low of $44.03 and a 1-year high of $80.85. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.89%. This is a boost from Griffon’s previous quarterly dividend of $0.15. Griffon’s dividend payout ratio (DPR) is presently 16.09%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stephens restated an “overweight” rating and issued a $85.00 price target on shares of Griffon in a research note on Tuesday, September 10th. Robert W. Baird increased their target price on Griffon from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $83.50.

Institutional Investors Weigh In On Griffon

A number of large investors have recently made changes to their positions in GFF. BNP Paribas Financial Markets boosted its stake in Griffon by 1.2% in the 1st quarter. BNP Paribas Financial Markets now owns 29,566 shares of the conglomerate’s stock worth $2,168,000 after purchasing an additional 355 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Griffon by 14.2% in the first quarter. SG Americas Securities LLC now owns 4,014 shares of the conglomerate’s stock valued at $294,000 after purchasing an additional 498 shares in the last quarter. Sei Investments Co. boosted its position in shares of Griffon by 62.0% in the first quarter. Sei Investments Co. now owns 47,724 shares of the conglomerate’s stock worth $3,500,000 after buying an additional 18,256 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Griffon by 353.3% during the first quarter. Russell Investments Group Ltd. now owns 15,123 shares of the conglomerate’s stock valued at $1,109,000 after buying an additional 11,787 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Griffon by 46.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,414 shares of the conglomerate’s stock valued at $1,350,000 after buying an additional 5,880 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

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.