Ronald J. Kramer Sells 3,121 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 3,121 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $70.00, for a total transaction of $218,470.00. Following the sale, the chief executive officer now owns 2,178,320 shares in the company, valued at approximately $152,482,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Griffon Stock Performance

NYSE GFF opened at $68.52 on Thursday. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. Griffon Co. has a 1-year low of $38.33 and a 1-year high of $77.99. The firm has a market capitalization of $3.40 billion, a P/E ratio of 18.09 and a beta of 1.29. The business’s 50-day simple moving average is $66.19 and its 200-day simple moving average is $67.34.

Griffon (NYSE:GFF) last released its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a return on equity of 96.05% and a net margin of 7.27%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Griffon’s quarterly revenue was down 5.2% compared to the same quarter last year. Equities analysts predict that Griffon Co. will post 4.87 EPS for the current year.

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Wednesday, August 28th. Griffon’s dividend payout ratio (DPR) is presently 15.83%.

Institutional Investors Weigh In On Griffon

Several institutional investors and hedge funds have recently modified their holdings of GFF. UniSuper Management Pty Ltd acquired a new position in Griffon during the 1st quarter worth approximately $557,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Griffon during the first quarter worth $4,013,000. Vanguard Group Inc. boosted its stake in shares of Griffon by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock valued at $432,954,000 after purchasing an additional 38,707 shares during the period. Seven Eight Capital LP acquired a new stake in Griffon during the 4th quarter valued at $1,830,000. Finally, Hsbc Holdings PLC increased its stake in Griffon by 228.7% during the 2nd quarter. Hsbc Holdings PLC now owns 61,704 shares of the conglomerate’s stock worth $3,954,000 after buying an additional 42,934 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Stephens restated an “overweight” rating and set a $85.00 price objective on shares of Griffon in a report on Tuesday, September 10th. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a report on Monday, September 23rd. Finally, Robert W. Baird cut their price objective on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Griffon has a consensus rating of “Buy” and an average price target of $81.50.

About Griffon

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.