Key Points
- Griffon COO Robert Mehmel sold 3,018 shares on June 16 at an average price of $95.39, totaling about $287,887. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Griffon recently reported quarterly EPS of $1.05, beating analyst expectations of $0.99, while revenue came in at $421.86 million, also ahead of estimates. However, revenue was still down 31% year over year.
- The company paid a quarterly dividend of $0.22 per share, or $0.88 annualized, for a yield of about 1.0%. Institutional ownership remains high, with 73.22% of shares held by hedge funds and other institutions.
Griffon Corporation (NYSE:GFF - Get Free Report) COO Robert Mehmel sold 547 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $95.37, for a total transaction of $52,167.39. Following the completion of the transaction, the chief operating officer owned 802,951 shares in the company, valued at approximately $76,577,436.87. The trade was a 0.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Griffon Price Performance
Shares of GFF opened at $91.21 on Friday. The company has a market capitalization of $4.18 billion, a P/E ratio of 701.69 and a beta of 1.42. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77. The firm has a 50 day moving average of $87.28 and a 200 day moving average of $82.06. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $97.58.
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. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business had revenue of $421.86 million for the quarter, compared to analysts' expectations of $414.63 million. During the same period in the prior year, the firm posted $1.23 EPS. The firm's quarterly revenue was down 31.0% on a year-over-year basis. As a group, equities research analysts anticipate that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.
Griffon Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th were paid a $0.22 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Griffon's payout ratio is currently 676.92%.
Hedge Funds Weigh In On Griffon
Institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. boosted its holdings in shares of Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate's stock worth $26,000 after buying an additional 211 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in Griffon during the first quarter valued at approximately $29,000. Huntington National Bank raised its position in Griffon by 645.0% in the third quarter. Huntington National Bank now owns 447 shares of the conglomerate's stock worth $34,000 after acquiring an additional 387 shares during the period. Hilton Head Capital Partners LLC purchased a new position in shares of Griffon during the 4th quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Griffon by 362.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate's stock valued at $36,000 after acquiring an additional 388 shares during the period. Institutional investors own 73.22% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on GFF shares. Weiss Ratings cut Griffon from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Robert W. Baird set a $115.00 target price on shares of Griffon in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Griffon from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded shares of Griffon from a "strong sell" rating to a "hold" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.00.
Check Out Our Latest Stock Report on GFF
Griffon Company Profile
(
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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