Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer Sells 39,247 Shares

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 39,247 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $70.03, for a total transaction of $2,748,467.41. Following the sale, the chief executive officer now owns 2,221,499 shares of the company’s stock, valued at approximately $155,571,574.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Griffon Price Performance

Griffon stock traded up $2.05 during mid-day trading on Monday, hitting $69.93. 682,249 shares of the company traded hands, compared to its average volume of 441,178. Griffon Co. has a one year low of $38.33 and a one year high of $77.99. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 18.44 and a beta of 1.29. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50. The stock has a fifty day moving average price of $66.34 and a 200-day moving average price of $67.33.

Griffon (NYSE:GFF) last announced its earnings results 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). 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 the consensus estimate of $688.94 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts predict that Griffon Co. will post 4.87 earnings per share for the current fiscal year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders 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 annualized dividend and a yield of 0.86%. Griffon’s payout ratio is presently 15.83%.

Analyst Upgrades and Downgrades

GFF has been the subject of several recent research reports. StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Stephens restated an “overweight” rating and issued a $85.00 price objective on shares of Griffon in a research report on Tuesday, September 10th. Finally, Robert W. Baird cut their price objective on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $81.50.

Institutional Investors Weigh In On Griffon

Several hedge funds have recently bought and sold shares of GFF. Scarborough Advisors LLC bought a new stake in shares of Griffon in the 4th quarter worth approximately $35,000. Quarry LP lifted 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 acquiring an additional 386 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Griffon in the 2nd quarter worth approximately $55,000. GAMMA Investing LLC lifted its holdings in shares of Griffon by 65.1% in the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after acquiring an additional 332 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Griffon in the 1st quarter worth approximately $65,000. 73.22% of the stock is currently owned by institutional investors.

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.