Key Points
- Griffon COO Robert Mehmel sold 3,272 shares on June 15 at an average price of $95.40, totaling about $312,149. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still directly owns 806,516 shares.
- Griffon reported better-than-expected quarterly results, posting EPS of $1.05 versus the $0.99 estimate and revenue of $421.86 million versus expectations of $414.63 million. However, revenue was still down 31% year over year from the prior period.
- The company recently declared a quarterly dividend of $0.22 per share, payable June 17, which annualizes to $0.88 and implies a 0.9% yield. Wall Street currently has a Moderate Buy consensus rating with an average price target of $115.00.
Griffon Corporation (NYSE:GFF - Get Free Report) COO Robert Mehmel sold 3,272 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $95.40, for a total transaction of $312,148.80. Following the sale, the chief operating officer directly owned 806,516 shares of the company's stock, valued at $76,941,626.40. This trade represents a 0.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Griffon Stock Performance
GFF stock opened at $94.17 on Wednesday. The stock has a market capitalization of $4.32 billion, a PE ratio of 724.46 and a beta of 1.42. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $97.58. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. The stock's 50 day simple moving average is $86.57 and its 200 day simple moving average is $81.85.
Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $421.86 million for the quarter, compared to analysts' expectations of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The firm's quarterly revenue was down 31.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. As a group, research analysts forecast that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.
Griffon Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, May 29th. Griffon's payout ratio is 676.92%.
Wall Street Analysts Forecast Growth
GFF has been the subject of a number of research analyst reports. Zacks Research raised shares of Griffon from a "strong sell" rating to a "hold" rating in a research report on Friday, May 8th. Robert W. Baird set a $115.00 target price on shares of Griffon in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Griffon from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings downgraded shares of Griffon from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.00.
Get Our Latest Stock Analysis on Griffon
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its stake in Griffon by 149.6% in the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate's stock worth $26,000 after purchasing an additional 211 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in Griffon in the 1st quarter worth $29,000. Huntington National Bank lifted its stake in Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate's stock worth $34,000 after purchasing an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Griffon in the 4th quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Griffon by 362.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate's stock worth $36,000 after purchasing an additional 388 shares in the last quarter. Institutional investors own 73.22% of the company's stock.
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.
Further Reading
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