Robert F. Mehmel Sells 12,943 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 12,943 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $68.19, for a total value of $882,583.17. Following the completion of the sale, the chief operating officer now directly owns 762,914 shares of the company’s stock, valued at approximately $52,023,105.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Griffon Stock Down 3.0 %

Shares of GFF stock opened at $67.88 on Friday. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. The firm has a market cap of $3.36 billion, a PE ratio of 17.91 and a beta of 1.29. The stock has a 50 day moving average of $66.34 and a 200-day moving average of $67.34.

Griffon (NYSE:GFF) last posted 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). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $688.94 million. During the same period in the prior year, the company posted $1.29 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. On average, equities analysts predict that Griffon Co. will post 4.87 EPS 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 given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.88%. Griffon’s dividend payout ratio is 15.83%.

Analyst Upgrades and Downgrades

GFF has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $85.00 target price on shares of Griffon in a research report on Tuesday, September 10th. Robert W. Baird lowered their target price on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently 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 modified their holdings of GFF. Scarborough Advisors LLC bought a new stake in shares of Griffon in the fourth quarter valued at approximately $35,000. Quarry LP raised its stake in shares of Griffon by 98.7% in the second 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 shares of Griffon in the second quarter valued at $55,000. GAMMA Investing LLC raised its stake in shares of Griffon by 65.1% in the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 332 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in shares of Griffon in the first quarter valued at $65,000. 73.22% of the stock is owned by institutional investors.

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.