Griffon Co. (NYSE:GFF - Get Free Report) Director Victor Eugene Renuart sold 767 shares of the business's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $32.73, for a total value of $25,103.91. Following the sale, the director now owns 23,812 shares of the company's stock, valued at $779,366.76. The trade was a 3.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Victor Eugene Renuart also recently made the following trade(s):
- On Tuesday, November 26th, Victor Eugene Renuart sold 4,500 shares of Griffon stock. The shares were sold at an average price of $84.46, for a total transaction of $380,070.00.
Griffon Trading Up 0.9 %
NYSE GFF opened at $84.29 on Friday. The company's fifty day simple moving average is $70.30 and its 200-day simple moving average is $67.54. The stock has a market cap of $4.03 billion, a P/E ratio of 19.93 and a beta of 1.31. Griffon Co. has a 52 week low of $45.70 and a 52 week high of $86.73. The company has a current ratio of 2.66, a quick ratio of 1.44 and a debt-to-equity ratio of 6.74.
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Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The conglomerate reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.29. The company had revenue of $659.70 million during the quarter, compared to analysts' expectations of $641.24 million. Griffon had a net margin of 8.00% and a return on equity of 108.70%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 EPS. Equities research analysts predict that Griffon Co. will post 5.57 EPS for the current fiscal year.
Griffon Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change from Griffon's previous quarterly dividend of $0.15. Griffon's dividend payout ratio (DPR) is 17.02%.
Griffon declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 13th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the conglomerate to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On Griffon
Several institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP increased its stake in shares of Griffon by 98.7% in the second quarter. Quarry LP now owns 777 shares of the conglomerate's stock worth $50,000 after buying an additional 386 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Griffon during the 2nd quarter worth $55,000. Plato Investment Management Ltd bought a new stake in shares of Griffon in the 1st quarter worth about $65,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Griffon in the 2nd quarter valued at about $70,000. Finally, GAMMA Investing LLC raised its stake in shares of Griffon by 56.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate's stock valued at $79,000 after purchasing an additional 411 shares in the last quarter. 73.22% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GFF has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Stephens increased their price target on Griffon from $85.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded Griffon from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 23rd. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $89.25.
Get Our Latest Stock Report on GFF
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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