Insider Selling: Griffon Co. (NYSE:GFF) COO Sells 912 Shares of Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 912 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $70.06, for a total value of $63,894.72. Following the sale, the chief operating officer now owns 746,611 shares of the company’s stock, valued at approximately $52,307,566.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Griffon Trading Down 0.5 %

Shares of Griffon stock opened at $67.71 on Monday. The company’s fifty day moving average price is $66.30 and its two-hundred day moving average price is $67.01. The firm has a market capitalization of $3.36 billion, a PE ratio of 17.87 and a beta of 1.29. Griffon Co. has a 52-week low of $38.33 and a 52-week 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.

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

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, August 28th. Griffon’s dividend payout ratio is 15.83%.

Wall Street Analyst Weigh In

GFF has been the subject of a number of research analyst reports. Stephens reiterated an “overweight” rating and set a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. Robert W. Baird decreased their target price on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 12th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $81.50.

Institutional Trading of Griffon

A number of large investors have recently bought and sold shares of GFF. Quarry LP boosted its stake in shares of Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 386 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Griffon in the second quarter valued at about $55,000. GAMMA Investing LLC grew 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 during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Griffon during the first quarter worth approximately $65,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Griffon in the second quarter valued at approximately $70,000. 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.