Griffon Co. (NYSE:GFF) CEO Sells $21,021.00 in Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 300 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $70.07, for a total value of $21,021.00. Following the completion of the transaction, the chief executive officer now owns 2,176,199 shares of the company’s stock, valued at $152,486,263.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Griffon Trading Up 1.2 %

Shares of GFF stock opened at $69.18 on Monday. Griffon Co. has a 12-month low of $38.33 and a 12-month high of $77.99. The firm has a 50 day moving average price of $65.99 and a two-hundred day moving average price of $67.29. 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 market capitalization of $3.43 billion, a PE ratio of 18.25 and a beta of 1.29.

Griffon (NYSE:GFF) last issued its quarterly earnings data 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 net margin of 7.27% and a return on equity of 96.05%. The firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $688.94 million. During the same period in the prior year, the company earned $1.29 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, analysts predict that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, August 28th. Griffon’s dividend payout ratio is currently 15.83%.

Wall Street Analysts Forecast Growth

GFF has been the subject of several recent analyst reports. Robert W. Baird cut their price objective on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Stephens reissued an “overweight” rating and set a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $81.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Griffon by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock worth $432,954,000 after buying an additional 38,707 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Griffon by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,379,000 shares of the conglomerate’s stock worth $88,066,000 after purchasing an additional 19,644 shares during the period. LSV Asset Management raised its stake in Griffon by 486.0% in the first quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock valued at $66,834,000 after purchasing an additional 755,773 shares in the last quarter. Renaissance Technologies LLC lifted its position in Griffon by 9.6% during the second quarter. Renaissance Technologies LLC now owns 631,851 shares of the conglomerate’s stock worth $40,350,000 after purchasing an additional 55,100 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Griffon by 112.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 283,800 shares of the conglomerate’s stock worth $18,123,000 after buying an additional 150,000 shares in the last quarter. 73.22% of the stock is owned by institutional investors.

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.