Griffon Co. (NYSE:GFF) Director Sells $134,760.00 in Stock

Griffon Co. (NYSE:GFFGet Free Report) Director James W. Sight sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $67.38, for a total value of $134,760.00. Following the completion of the sale, the director now owns 18,843 shares in the company, valued at approximately $1,269,641.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Griffon Price Performance

Shares of NYSE:GFF opened at $68.61 on Monday. The business’s 50 day simple moving average is $58.29 and its 200-day simple moving average is $47.46. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 51.20 and a beta of 1.39. The company has a debt-to-equity ratio of 5.02, a current ratio of 2.46 and a quick ratio of 1.32. Griffon Co. has a 12 month low of $25.97 and a 12 month high of $69.41.

Griffon (NYSE:GFFGet Free Report) last posted its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The firm had revenue of $643.20 million for the quarter, compared to analyst estimates of $595.87 million. During the same quarter in the prior year, the company earned $0.86 EPS. Griffon’s revenue was down 1.0% on a year-over-year basis. As a group, equities analysts forecast that Griffon Co. will post 4.8 earnings per share for the current fiscal year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, February 28th. Griffon’s dividend payout ratio is presently 44.78%.

Griffon declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 15th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the conglomerate to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Griffon

A number of institutional investors and hedge funds have recently made changes to their positions in GFF. GAMMA Investing LLC acquired a new stake in Griffon in the 4th quarter valued at $30,000. Quadrant Capital Group LLC lifted its holdings in Griffon by 530.3% in the second quarter. Quadrant Capital Group LLC now owns 769 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 647 shares during the last quarter. Quarry LP increased its stake in shares of Griffon by 931.0% in the first quarter. Quarry LP now owns 1,165 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 1,052 shares during the period. Covestor Ltd increased its stake in shares of Griffon by 128.6% in the second quarter. Covestor Ltd now owns 944 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 531 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Griffon by 671.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 557 shares during the period. 73.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GFF shares. Deutsche Bank Aktiengesellschaft raised their target price on Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Raymond James raised their target price on Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Monday, February 5th. TheStreet raised Griffon from a “c+” rating to a “b” rating in a research note on Friday, November 24th. Finally, StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday.

View Our Latest Stock Report on GFF

About Griffon

(Get Free Report)

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.

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