Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer Sells 3,121 Shares

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 3,121 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $70.00, for a total transaction of $218,470.00. Following the transaction, the chief executive officer now directly owns 2,178,320 shares of the company’s stock, valued at approximately $152,482,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Griffon Price Performance

NYSE:GFF traded down $0.53 during mid-day trading on Tuesday, hitting $69.47. The company’s stock had a trading volume of 282,826 shares, compared to its average volume of 437,849. The stock has a fifty day moving average of $66.26 and a 200-day moving average of $67.34. Griffon Co. has a fifty-two week low of $38.33 and a fifty-two week high of $77.99. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 18.39 and a beta of 1.29. 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 (NYSE:GFF) last announced its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). The firm had revenue of $647.80 million for the quarter, compared to the consensus estimate of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. As a group, equities analysts forecast 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. Investors of record on Wednesday, August 28th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Wednesday, August 28th. Griffon’s payout ratio is currently 15.83%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. 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 issued a $85.00 price target on shares of Griffon in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Griffon has a consensus rating of “Buy” and a consensus price target of $81.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC boosted its position in shares of Griffon by 5.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock worth $256,000 after acquiring an additional 201 shares in the last quarter. Essex Investment Management Co. LLC raised its position in Griffon by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 39,526 shares of the conglomerate’s stock valued at $2,899,000 after purchasing an additional 213 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Griffon by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,753 shares of the conglomerate’s stock worth $1,134,000 after buying an additional 231 shares during the period. National Bank of Canada FI grew its stake in shares of Griffon by 2.2% in the second quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate’s stock worth $930,000 after purchasing an additional 311 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Griffon by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 11,074 shares of the conglomerate’s stock valued at $707,000 after purchasing an additional 322 shares during the period. 73.22% of the stock is owned by institutional investors and hedge funds.

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.