Griffon Co. (NYSE:GFF) CFO Brian G. Harris Sells 251 Shares

Griffon Co. (NYSE:GFF) CFO Brian G. Harris sold 251 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $67.50, for a total transaction of $16,942.50. Following the transaction, the chief financial officer now owns 199,497 shares of the company’s stock, valued at approximately $13,466,047.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Griffon Trading Up 0.7 %

GFF traded up $0.47 on Tuesday, hitting $67.61. The company had a trading volume of 375,638 shares, compared to its average volume of 431,479. The business’s fifty day simple moving average is $66.02 and its 200 day simple moving average is $67.37. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. Griffon Co. has a 12-month low of $38.33 and a 12-month high of $77.99. The company has a market cap of $3.35 billion, a PE ratio of 17.84 and a beta of 1.29.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS 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 during the quarter, compared to analysts’ expectations of $688.94 million. During the same quarter last year, the firm posted $1.29 EPS. Griffon’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts expect that Griffon Co. will post 4.87 EPS for the current year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. Griffon’s dividend payout ratio (DPR) is presently 15.83%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GFF shares. Robert W. Baird dropped 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. Stephens restated an “overweight” rating and set a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. Finally, StockNews.com cut Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $81.50.

Hedge Funds Weigh In On Griffon

Several hedge funds have recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in Griffon in the fourth quarter worth $35,000. Quarry LP increased its stake in Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after buying an additional 386 shares during the period. GAMMA Investing LLC lifted its holdings in Griffon by 65.1% during the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock valued at $62,000 after buying an additional 332 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in Griffon in the 2nd quarter valued at about $55,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Griffon during the first quarter worth approximately $65,000. 73.22% of the stock is currently owned by institutional investors.

Griffon Company Profile

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.