Griffon Co. (NYSE:GFF) COO Robert F. Mehmel Sells 9,892 Shares

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 9,892 shares of Griffon stock in a transaction on Monday, September 16th. The stock was sold at an average price of $66.69, for a total value of $659,697.48. Following the sale, the chief operating officer now owns 787,914 shares of the company’s stock, valued at $52,545,984.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Griffon Stock Up 0.7 %

NYSE:GFF opened at $67.61 on Wednesday. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The firm has a market cap of $3.35 billion, a PE ratio of 17.84 and a beta of 1.29. The company has a 50-day moving average of $66.02 and a 200 day moving average of $67.37. Griffon Co. has a 1-year low of $38.33 and a 1-year high of $77.99.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). The business had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. Griffon’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. As a group, research analysts anticipate that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.89%. Griffon’s dividend payout ratio is presently 15.83%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GFF shares. StockNews.com lowered shares of Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Stephens reaffirmed an “overweight” rating and set a $85.00 price target on shares of Griffon in a research note on Tuesday, September 10th. Finally, Robert W. Baird lowered their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $81.50.

Institutional Investors Weigh In On Griffon

A number of hedge funds have recently made changes to their positions in GFF. LSV Asset Management grew 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 during the last quarter. Norges Bank purchased a new position in shares of Griffon in the 4th quarter worth approximately $20,531,000. Lodge Hill Capital LLC grew its position in shares of Griffon by 190.3% in the 2nd quarter. Lodge Hill Capital LLC now owns 251,700 shares of the conglomerate’s stock worth $16,074,000 after buying an additional 165,000 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Griffon by 112.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 283,800 shares of the conglomerate’s stock worth $18,123,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Griffon during the second quarter valued at approximately $7,433,000. 73.22% of the stock is currently owned by hedge funds and other 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.