Griffon Co. (NYSE:GFF) COO sells $222,211.74 worth of stock

Griffon Co. (NYSE:GFF – Get Your Free Report ) COO Robert F. Mehmel sold 3,174 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $70.01, for a total transaction of $222,211.74. Following the completion of the sale, the chief operating officer now directly owns 750,872 shares of the company’s stock, valued at $52,568,548.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Griffon stock down 1.4%

Shares of GFF traded down $0.98 during trading hours on Wednesday, reaching $68.80. The company’s stock had a trading volume of 310,731 shares, compared to its average volume of 440,094. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 18.42 and a beta of 1.29. Griffon Co. has a 1 year low of $38.33 and a 1 year high of $77.99. The company has a quick ratio of 1.39, a current ratio of 2.50, and a debt-to-equity ratio of 6.71. The company has a 50 day moving average of $66.34 and a two hundred day moving average of $67.33.

Griffon (NYSE:GFF – Get Your Free Report ) last posted its earnings results 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). The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. Griffon’s revenue for the quarter was down 5.2% year over year. In the same quarter last year, the company earned $1.29 EPS. As a group, research analysts predict that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon announces dividend

The company 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. The ex-dividend date of this dividend was Wednesday, August 28. This represents an annualized dividend of $0.60 and a dividend yield of 0.87%. Griffon’s payout ratio is 15.83%.

Analysts set new price targets

Several research firms have issued reports on GFF. Robert W. Baird reduced 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. Stephens restated an “overweight” rating and set a $85.00 price objective on shares of Griffon in a report on Tuesday, September 10th. Finally, StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a report on Monday. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $81.50, according to MarketBeat.com.

Check out our latest analysis of GFF

Institutional investors are weighing on Griffon

Large investors have recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in shares of Griffon in the 4th quarter valued at about $35,000. Quarry LP raised its stake in shares of Griffon by 98.7% in the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 386 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Griffon by 65.1% in the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 332 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Griffon in the second quarter valued at about $55,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Griffon in the first quarter valued at about $65,000. Institutional investors own 73.22% of the company’s shares.

Griffon Company Profile

(Get a free report)

Griffon Corporation, through its subsidiaries, supplies consumer and professional, as well as residential and construction products in the United States, Europe, Canada, Australia and internationally. The company operates through two segments: Home & Construction Products and Consumer & Professional Products. The Home & Construction Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grills and room dividers for use in construction and commercial repair and remodeling applications of the house.

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