Griffon Co. (NYSE:GFF) Director Victor Eugene Renuart Sells 2,442 Shares

Griffon Co. (NYSE:GFF) Director Victor Eugene Renuart sold 2,442 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $20.41, for a total value of $49,841.22. Following the transaction, the director now owns 30,096 shares in the company, valued at $614,259.36. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 %

Griffon stock opened at $84.30 on Monday. Griffon Co. has a 52-week low of $45.70 and a 52-week high of $86.73. The company has a quick ratio of 1.44, a current ratio of 2.66 and a debt-to-equity ratio of 6.74. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 19.93 and a beta of 1.31. The firm has a 50-day moving average price of $70.62 and a two-hundred day moving average price of $67.63.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, November 13th. The conglomerate reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.29. The business had revenue of $659.70 million during the quarter, compared to analyst estimates of $641.24 million. Griffon had a return on equity of 108.70% and a net margin of 8.00%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Sell-side analysts expect that Griffon Co. will post 5.57 earnings per share for the current year.

Griffon Increases Dividend

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

Griffon declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 13th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the conglomerate to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Griffon

Several large investors have recently bought and sold shares of the stock. Quarry LP boosted its holdings in shares of Griffon by 98.7% in the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after acquiring an additional 386 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Griffon during the 2nd quarter valued at $55,000. Plato Investment Management Ltd acquired a new position in shares of Griffon during the 1st quarter valued at $65,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Griffon in the 2nd quarter worth $70,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Griffon by 56.9% in the third quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock valued at $79,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GFF shares. Stephens increased their price objective on shares of Griffon from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Robert W. Baird increased their price target on Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, StockNews.com upgraded 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 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 $89.25.

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.