Key Points
- Griffon COO Robert Mehmel sold 4,166 shares on June 30 at an average price of $97.76, totaling about $407,268. After the sale, he still held 785,900 shares worth roughly $76.8 million.
- The sale was made under a pre-arranged Rule 10b5-1 trading plan, which indicates it was set up in advance rather than made on a discretionary basis.
- Griffon recently beat earnings expectations, reporting $1.05 EPS versus the $0.99 estimate, and it also paid a quarterly dividend of $0.22 per share, or $0.88 annualized.
Griffon Corporation (NYSE:GFF - Get Free Report) COO Robert Mehmel sold 4,166 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $97.76, for a total transaction of $407,268.16. Following the sale, the chief operating officer owned 785,900 shares of the company's stock, valued at approximately $76,829,584. This represents a 0.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Griffon Price Performance
Griffon stock opened at $92.74 on Friday. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 713.45 and a beta of 1.41. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. Griffon Corporation has a 12 month low of $65.01 and a 12 month high of $98.36. The stock's 50 day moving average is $89.41 and its 200-day moving average is $83.41.
Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $414.63 million. During the same period in the previous year, the company posted $1.23 EPS. The firm's quarterly revenue was down 31.0% on a year-over-year basis. Equities research analysts expect that Griffon Corporation will post 5.17 EPS for the current year.
Griffon Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 29th. Griffon's payout ratio is presently 676.92%.
Analyst Ratings Changes
Several brokerages have weighed in on GFF. Wall Street Zen cut shares of Griffon from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Griffon from a "strong sell" rating to a "hold" rating in a research report on Friday, May 8th. Weiss Ratings cut shares of Griffon from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 price target on shares of Griffon in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.00.
Read Our Latest Report on GFF
Institutional Trading of Griffon
A number of institutional investors and hedge funds have recently made changes to their positions in GFF. Hantz Financial Services Inc. boosted its position in shares of Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate's stock worth $26,000 after acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Griffon during the first quarter valued at approximately $29,000. Huntington National Bank lifted its stake in Griffon by 645.0% during the third quarter. Huntington National Bank now owns 447 shares of the conglomerate's stock worth $34,000 after purchasing an additional 387 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in Griffon during the fourth quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Griffon by 362.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate's stock valued at $36,000 after purchasing an additional 388 shares in the last quarter. Institutional investors own 73.22% of the company's stock.
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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