Griffon Co. (NYSE:GFF) CEO Sells $457,631.92 in Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 6,532 shares of the firm’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 $457,631.92. Following the completion of the sale, the chief executive officer now owns 2,169,667 shares in the company, valued at $152,006,870.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Griffon Price Performance

NYSE GFF opened at $67.71 on Monday. The stock’s fifty day moving average price is $66.30 and its 200 day moving average price is $67.01. Griffon Co. has a 1 year low of $38.33 and a 1 year high of $77.99. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 17.87 and a beta of 1.29.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.07). The firm had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. As a group, equities research analysts forecast that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, August 28th. Griffon’s dividend payout ratio (DPR) is currently 15.83%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GFF. Quarry LP grew its position in Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after purchasing an additional 386 shares during the period. GAMMA Investing LLC grew its holdings in Griffon by 65.1% during the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after acquiring an additional 332 shares during the period. Picton Mahoney Asset Management purchased a new position in Griffon during the second quarter valued at approximately $55,000. Plato Investment Management Ltd acquired a new position in Griffon in the first quarter valued at approximately $65,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Griffon in the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports 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 report on Thursday, August 8th. Stephens reaffirmed an “overweight” rating and set a $85.00 target price on shares of Griffon in a research report on Tuesday, September 10th. Finally, StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 12th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Griffon has a consensus rating of “Buy” and an average target price of $81.50.

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.