Griffon Corporation (NYSE:GFF - Get Free Report) CEO Ronald Kramer sold 100,000 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $94.92, for a total transaction of $9,492,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,784,297 shares of the company's stock, valued at $169,365,471.24. This represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Griffon Trading Up 1.0%
Shares of Griffon stock opened at $94.68 on Tuesday. The company has a market capitalization of $4.34 billion, a P/E ratio of 728.36 and a beta of 1.42. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. The company has a fifty day moving average of $86.11 and a 200 day moving average of $81.71. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $97.58.
Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The company had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. Griffon's quarterly revenue was down 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. On average, sell-side analysts anticipate that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.
Griffon Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 annualized dividend and a yield of 0.9%. Griffon's dividend payout ratio is currently 676.92%.
Institutional Trading of Griffon
Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its position in Griffon by 20.2% in the 1st quarter. Royal Bank of Canada now owns 94,955 shares of the conglomerate's stock worth $6,790,000 after purchasing an additional 15,925 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Griffon by 9.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate's stock worth $1,676,000 after purchasing an additional 2,047 shares during the period. NewEdge Advisors LLC purchased a new stake in Griffon in the 1st quarter worth about $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Griffon by 21.0% in 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 stake in Griffon in the 1st quarter worth about $57,000. 73.22% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on GFF shares. Robert W. Baird set a $115.00 target price on shares of Griffon in a report on Friday, May 8th. Weiss Ratings downgraded shares of Griffon from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Zacks Research raised shares of Griffon from a "strong sell" rating to a "hold" rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Griffon from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $115.00.
Read Our Latest Stock Analysis on GFF
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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