Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer Sells 13,690 Shares

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 13,690 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $70.03, for a total value of $958,710.70. Following the completion of the transaction, the chief executive officer now owns 2,181,441 shares of the company’s stock, valued at approximately $152,766,313.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Griffon Price Performance

NYSE GFF opened at $68.52 on Thursday. The company has a 50-day moving average price of $66.19 and a 200-day moving average price of $67.34. Griffon Co. has a 52 week low of $38.33 and a 52 week 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 firm has a market capitalization of $3.40 billion, a P/E ratio of 18.09 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). The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. Equities research analysts anticipate that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Dividend Announcement

The business also recently announced 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. The ex-dividend date was Wednesday, August 28th. This represents a $0.60 annualized dividend and a yield of 0.88%. Griffon’s dividend payout ratio (DPR) is presently 15.83%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GFF. Stephens reissued an “overweight” rating and issued a $85.00 target price on shares of Griffon in a research report on Tuesday, September 10th. Robert W. Baird decreased 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. Finally, StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Monday, September 23rd. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $81.50.

Institutional Trading of Griffon

Several hedge funds have recently bought and sold shares of the stock. Scarborough Advisors LLC purchased a new position in shares of Griffon during the 4th quarter valued at about $35,000. Quarry LP raised its stake in Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after acquiring an additional 386 shares during the period. Picton Mahoney Asset Management purchased a new position in Griffon during the second quarter valued at approximately $55,000. GAMMA Investing LLC boosted its position in shares of Griffon by 65.1% in the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 332 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in shares of Griffon in the first quarter worth $65,000. Institutional investors own 73.22% of the company’s stock.

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.