Robert F. Mehmel Sells 1,205 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 1,205 shares of Griffon stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $70.11, for a total transaction of $84,482.55. Following the completion of the transaction, the chief operating officer now directly owns 754,046 shares in the company, valued at approximately $52,866,165.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Griffon Stock Performance

Shares of Griffon stock traded up $2.06 during midday trading on Monday, hitting $69.94. The company had a trading volume of 682,249 shares, compared to its average volume of 441,178. The business’s 50 day simple moving average is $66.34 and its two-hundred day simple moving average is $67.33. The stock has a market cap of $3.47 billion, a PE ratio of 18.44 and a beta of 1.29. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. Griffon Co. has a 1-year low of $38.33 and a 1-year high of $77.99.

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 company had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, equities analysts predict that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. Griffon’s dividend payout ratio is currently 15.83%.

Wall Street Analyst Weigh In

GFF has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Griffon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird dropped their price target on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Stephens reissued an “overweight” rating and issued a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Griffon currently has a consensus rating of “Buy” and a consensus target price of $81.50.

Institutional Investors Weigh In On Griffon

Institutional investors have recently bought and sold shares of the business. Scarborough Advisors LLC acquired a new stake in Griffon during the fourth quarter worth $35,000. Quarry LP boosted its stake in Griffon by 98.7% during the second 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. Picton Mahoney Asset Management acquired a new stake in Griffon during the second quarter worth $55,000. GAMMA Investing LLC boosted its stake 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 buying an additional 332 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in Griffon during the first quarter worth $65,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

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.