Victor Eugene Renuart Sells 2,900 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) Director Victor Eugene Renuart sold 2,900 shares of the business’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $25.87, for a total transaction of $75,023.00. Following the completion of the sale, the director now owns 27,196 shares in the company, valued at approximately $703,560.52. This trade represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Victor Eugene Renuart also recently made the following trade(s):

• On Tuesday, November 26th, Victor Eugene Renuart sold 4,500 shares of Griffon stock. The stock was sold at an average price of $84.46, for a total transaction of $380,070.00.

Griffon Trading Up 0.9 %

GFF traded up $0.79 during trading on Friday, reaching $84.30. The company had a trading volume of 205,642 shares, compared to its average volume of 439,414. The firm’s 50-day simple moving average is $70.30 and its 200 day simple moving average is $67.54. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 19.93 and a beta of 1.31. Griffon Co. has a 12-month low of $45.70 and a 12-month high of $86.73. The company has a debt-to-equity ratio of 6.74, a quick ratio of 1.44 and a current ratio of 2.66.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, November 13th. The conglomerate reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.29. The firm had revenue of $659.70 million for the quarter, compared to analysts’ expectations of $641.24 million. Griffon had a return on equity of 108.70% and a net margin of 8.00%. Griffon’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Equities research analysts anticipate that Griffon Co. will post 5.57 earnings per share for the current year.

Griffon declared that its board has authorized a stock buyback plan on Wednesday, November 13th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the conglomerate to reacquire up to 10.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Griffon Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.85%. The ex-dividend date is Monday, November 25th. This is a boost from Griffon’s previous quarterly dividend of $0.15. Griffon’s payout ratio is 17.02%.

Wall Street Analyst Weigh In

Several brokerages have commented on GFF. Robert W. Baird boosted their price target on shares of Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Stephens boosted their price target on shares of Griffon from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 23rd. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Griffon has an average rating of “Buy” and an average target price of $89.25.

Hedge Funds Weigh In On Griffon

Several institutional investors and hedge funds have recently bought and sold shares of GFF. Plato Investment Management Ltd purchased a new position in Griffon during the 1st quarter valued at about $65,000. Virtu Financial LLC purchased a new position in Griffon during the 1st quarter valued at about $375,000. SG Americas Securities LLC grew its stake in Griffon by 659.0% during the 2nd quarter. SG Americas Securities LLC now owns 30,466 shares of the conglomerate’s stock valued at $1,946,000 after acquiring an additional 26,452 shares in the last quarter. Welch Group LLC grew its stake in Griffon by 66.7% during the 2nd quarter. Welch Group LLC now owns 5,000 shares of the conglomerate’s stock valued at $319,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Griffon during the 2nd quarter valued at about $4,764,000. Hedge funds and other 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.