Griffon Co. (NYSE:GFF - Get Free Report) COO Robert F. Mehmel sold 912 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $70.06, for a total transaction of $63,894.72. Following the completion of the transaction, the chief operating officer now directly owns 746,611 shares in the company, valued at $52,307,566.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Griffon Trading Down 0.6 %
Shares of Griffon stock opened at $67.67 on Friday. 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's 50 day simple moving average is $66.30 and its 200-day simple moving average is $67.04. The stock has a market cap of $3.35 billion, a P/E ratio of 17.85 and a beta of 1.29. Griffon Co. has a 1-year low of $38.33 and a 1-year high of $77.99.
Griffon (NYSE:GFF - Get Free Report) last released 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 period last year, the firm posted $1.29 EPS. The business's quarterly revenue was down 5.2% on a year-over-year basis. Analysts predict that Griffon Co. will post 4.87 EPS for the current fiscal year.
Griffon Announces Dividend
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, August 28th. Griffon's payout ratio is currently 15.83%.
Hedge Funds Weigh In On Griffon
Institutional investors have recently bought and sold shares of the company. Quarry LP grew its stake in shares of Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate's stock valued at $50,000 after buying an additional 386 shares during the period. Picton Mahoney Asset Management acquired a new position in Griffon in the second quarter valued at approximately $55,000. GAMMA Investing LLC grew its position in Griffon by 65.1% in the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate's stock worth $62,000 after acquiring an additional 332 shares during the period. Plato Investment Management Ltd acquired a new stake in Griffon during the first quarter worth $65,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Griffon in the second quarter valued at $70,000. 73.22% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GFF has been the subject of a number of research analyst reports. Stephens reissued an "overweight" rating and set a $85.00 target price on shares of Griffon in a report on Tuesday, September 10th. StockNews.com raised Griffon from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 12th. Finally, Robert W. Baird decreased their price objective on Griffon from $86.00 to $84.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Griffon currently has a consensus rating of "Buy" and an average price target of $81.50.
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Griffon Company Profile
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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.
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