Key Points
- Director James Sight sold 3,070 shares on Feb 9 at an average price of $96.15 for a total of $295,180.50, cutting his stake by 18.12% to 13,872 shares valued at about $1.33M.
- Griffon reported quarterly EPS of $1.45 versus $1.34 expected and revenue of $649.09M versus $618.35M, while the stock trades near its 52-week high of $97.58 and carries a high P/E of ~102.
- The company announced a quarterly dividend of $0.22 (annualized $0.88, yield 0.9%, payout ratio 95.65%), and Wall Street sentiment is positive with a consensus "Buy" rating and an average price target of $101.80.
Griffon Corporation (NYSE:GFF - Get Free Report) Director James Sight sold 3,070 shares of the business's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $96.15, for a total transaction of $295,180.50. Following the transaction, the director owned 13,872 shares of the company's stock, valued at approximately $1,333,792.80. This trade represents a 18.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Griffon Trading Up 0.2%
NYSE:GFF opened at $93.86 on Thursday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 102.02, a PEG ratio of 1.56 and a beta of 1.33. Griffon Corporation has a 52 week low of $63.92 and a 52 week high of $97.58. The company has a quick ratio of 1.27, a current ratio of 2.55 and a debt-to-equity ratio of 12.36. The firm has a 50 day moving average of $80.18 and a 200 day moving average of $76.98.
Griffon (NYSE:GFF - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.11. Griffon had a return on equity of 228.83% and a net margin of 1.76%.The business had revenue of $649.09 million for the quarter, compared to the consensus estimate of $618.35 million. During the same period in the prior year, the firm posted $1.39 earnings per share. The business's quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.
Griffon Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Friday, February 27th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Griffon's dividend payout ratio is currently 95.65%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Griffon from a "hold" rating to a "buy" rating in a research note on Saturday, November 22nd. CJS Securities upgraded shares of Griffon to a "strong-buy" rating in a research note on Thursday, December 11th. Zacks Research upgraded shares of Griffon from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. Robert W. Baird set a $108.00 price target on shares of Griffon in a report on Friday, February 6th. Finally, Stephens boosted their price objective on shares of Griffon from $92.00 to $115.00 and gave the company an "overweight" rating in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Griffon currently has a consensus rating of "Buy" and an average price target of $101.80.
Read Our Latest Report on Griffon
Institutional Trading of Griffon
Several large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in shares of Griffon by 20.2% in the first quarter. Royal Bank of Canada now owns 94,955 shares of the conglomerate's stock worth $6,790,000 after acquiring an additional 15,925 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Griffon by 9.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate's stock valued at $1,676,000 after purchasing an additional 2,047 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Griffon during the 1st quarter worth about $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Griffon by 21.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,035 shares of the conglomerate's stock worth $6,080,000 after purchasing an additional 14,764 shares during the period. Finally, Strs Ohio purchased a new position in shares of Griffon during the 1st quarter valued at about $57,000. 73.22% of the stock is owned by hedge funds and other institutional investors.
About Griffon
(
Get Free Report)
Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon's portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.
In the Home & Building Products segment, Griffon's Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.
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