Key Points
- COO Robert Mehmel sold 15,928 Griffon shares for approximately $1.71 million at an average price of $107.35. The sale was made under a pre-arranged Rule 10b5-1 plan, and he retained 732,911 shares.
- Griffon exceeded quarterly expectations, reporting earnings of $1.51 per share versus the $1.34 estimate and revenue of $481.37 million versus the $457.70 million consensus, though revenue declined 21.5% year over year.
- The company announced a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 payout and a 0.8% yield. Analysts maintain a consensus “Buy” rating with an average price target of $122.50.
Griffon Corporation (NYSE:GFF - Get Free Report) COO Robert Mehmel sold 6,639 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $104.34, for a total value of $692,713.26. Following the transaction, the chief operating officer owned 726,272 shares in the company, valued at $75,779,220.48. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Griffon Stock Performance
NYSE:GFF opened at $106.81 on Wednesday. The company has a fifty day moving average of $92.75 and a 200-day moving average of $86.39. The firm has a market capitalization of $4.84 billion, a P/E ratio of 27.25 and a beta of 1.44. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. Griffon Corporation has a twelve month low of $65.01 and a twelve month high of $108.57.
Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.17. The business had revenue of $481.37 million for the quarter, compared to analyst estimates of $457.70 million. Griffon had a net margin of 8.08% and a return on equity of 249.31%. Griffon's revenue was down 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 earnings per share. As a group, sell-side analysts anticipate that Griffon Corporation will post 5.33 EPS for the current year.
Griffon Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Monday, August 31st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Griffon's dividend payout ratio is 22.45%.
Wall Street Analysts Forecast Growth
GFF has been the subject of a number of research analyst reports. Robert W. Baird set a $125.00 target price on Griffon in a research report on Thursday, August 6th. Stephens increased their price target on Griffon from $115.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Wall Street Zen cut Griffon from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings restated a "hold (c-)" rating on shares of Griffon in a report on Friday. Finally, Zacks Research raised Griffon from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $122.50.
View Our Latest Research Report on GFF
Institutional Investors Weigh In On Griffon
Several hedge funds and other institutional investors have recently made changes to their positions in GFF. Corient Private Wealth LLC increased its holdings in Griffon by 3.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,546 shares of the conglomerate's stock worth $261,000 after purchasing an additional 115 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Griffon by 1.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,299 shares of the conglomerate's stock valued at $759,000 after buying an additional 132 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Griffon by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,929 shares of the conglomerate's stock valued at $658,000 after buying an additional 136 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Griffon by 30.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 585 shares of the conglomerate's stock worth $43,000 after buying an additional 137 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Griffon by 33.0% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate's stock worth $41,000 after buying an additional 142 shares in the last quarter. 73.22% of the stock is owned by institutional investors.
Key Headlines Impacting Griffon
Here are the key news stories impacting Griffon this week:
- Positive Sentiment: An analyst view argues that resilience in Griffon’s Residential and Renovation (R&R) business, combined with a potential volume recovery in fiscal 2027, could support higher earnings and valuation. Griffon Corporation: R&R Resilience And FY27 Volume Recovery Create Upside To Earnings And Valuation
- Positive Sentiment: Griffon recently exceeded quarterly earnings and revenue expectations, providing support for the company’s improving investor sentiment and recent stock strength.
- Neutral Sentiment: Griffon priced an $800 million private placement of senior unsecured notes due 2034, carrying a 6.25% annual interest rate. Proceeds, along with cash and revolver borrowings, are intended to support refinancing and other corporate purposes; closing is expected August 18. The longer maturity could improve debt flexibility, but the financing adds substantial interest expense. Griffon Corporation Announces Pricing of $800 Million Senior Notes Offering
- Negative Sentiment: COO Robert F. Mehmel sold a combined 22,567 Griffon shares for approximately $2.4 million in transactions dated August 7 and August 10. However, both sales were conducted under a pre-arranged Rule 10b5-1 plan, and he continues to own more than 726,000 shares, reducing the significance of the transactions as a bearish signal. SEC Form 4 Insider Sale Filing
Griffon Company Profile
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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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