Griffon Co. (NYSE:GFF - Get Free Report) CEO Ronald J. Kramer sold 300 shares of the business's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $70.07, for a total value of $21,021.00. Following the sale, the chief executive officer now owns 2,176,199 shares in the company, valued at $152,486,263.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Griffon Trading Up 1.2 %
Shares of GFF stock opened at $69.18 on Friday. Griffon Co. has a 1-year low of $38.33 and a 1-year high of $77.99. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 18.25 and a beta of 1.29. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The stock has a 50 day simple moving average of $66.11 and a 200-day simple moving average of $67.35.
Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing analysts' consensus estimates of $1.31 by ($0.07). Griffon had a return on equity of 96.05% and a net margin of 7.27%. The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $688.94 million. During the same quarter in the prior year, the company posted $1.29 earnings per share. The business's revenue was down 5.2% on a year-over-year basis. On average, equities research analysts expect that Griffon Co. will post 4.87 EPS for the current fiscal year.
Griffon Announces Dividend
The panic button has already been pressed
From Porter & Company | Ad
If you missed it, my emergency election broadcast is now available - but will be removed on Monday at midnight.
Click here to watch it now.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, August 28th. Griffon's dividend payout ratio is presently 15.83%.
Institutional Investors Weigh In On Griffon
Several large investors have recently bought and sold shares of the company. Evergreen Capital Management LLC grew its holdings in shares of Griffon by 5.3% during the second quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate's stock worth $256,000 after buying an additional 201 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in Griffon by 0.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 39,526 shares of the conglomerate's stock worth $2,899,000 after purchasing an additional 213 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Griffon by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 17,753 shares of the conglomerate's stock valued at $1,134,000 after purchasing an additional 231 shares in the last quarter. National Bank of Canada FI increased its position in Griffon by 2.2% during the second quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate's stock worth $930,000 after purchasing an additional 311 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Griffon by 3.0% during the second quarter. Arizona State Retirement System now owns 11,074 shares of the conglomerate's stock worth $707,000 after purchasing an additional 322 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on GFF shares. Stephens restated an "overweight" rating and issued a $85.00 target price on shares of Griffon in a research note on Tuesday, September 10th. StockNews.com raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Robert W. Baird cut their price objective on shares of Griffon from $86.00 to $84.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $81.50.
Get Our Latest Analysis on GFF
About Griffon
(
Get Free Report)
Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
