Griffon Co. (NYSE:GFF) Given Average Rating of “Buy” by Brokerages

Shares of Griffon Co. (NYSE:GFF) have received an average recommendation of “Buy” from the four analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $81.50.

GFF has been the topic of a number of recent analyst reports. Stephens reissued an “overweight” rating and issued a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th. Robert W. Baird dropped their target price on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Insider Activity at Griffon

In other Griffon news, COO Robert F. Mehmel sold 1,205 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $70.11, for a total value of $84,482.55. Following the sale, the chief operating officer now directly owns 754,046 shares in the company, valued at $52,866,165.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Ronald J. Kramer sold 100,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,260,746 shares of the company’s stock, valued at $140,754,045.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert F. Mehmel sold 1,205 shares of Griffon stock in a transaction on Friday, September 20th. The stock was sold at an average price of $70.11, for a total transaction of $84,482.55. Following the sale, the chief operating officer now owns 754,046 shares in the company, valued at $52,866,165.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 253,020 shares of company stock worth $16,722,924 in the last ninety days. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Griffon

Hedge funds and other institutional investors have recently made changes to their positions in the business. Scarborough Advisors LLC acquired a new position in Griffon in the fourth quarter worth about $35,000. Quarry LP raised its holdings in shares of Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after buying an additional 386 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Griffon by 65.1% during the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after buying an additional 332 shares during the period. Picton Mahoney Asset Management acquired a new stake in Griffon in the 2nd quarter valued at $55,000. Finally, Plato Investment Management Ltd bought a new stake in Griffon in the first quarter valued at $65,000. 73.22% of the stock is owned by institutional investors.

Griffon Trading Up 1.2 %

Shares of NYSE:GFF opened at $69.18 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The stock has a market capitalization of $3.43 billion, a PE ratio of 18.25 and a beta of 1.29. Griffon has a 1 year low of $38.33 and a 1 year high of $77.99. The firm has a fifty day moving average price of $66.11 and a 200 day moving average price of $67.35.

Griffon (NYSE:GFF) last issued its quarterly earnings data 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 company had revenue of $647.80 million for the quarter, compared to analyst estimates of $688.94 million. During the same period in the prior year, the company posted $1.29 EPS. The business’s revenue was down 5.2% on a year-over-year basis. Analysts expect that Griffon will post 4.87 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, August 28th. Griffon’s dividend payout ratio (DPR) is currently 15.83%.

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.