Griffon Co. (NYSE:GFF) CEO Sells $2,748,467.41 in Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 39,247 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $70.03, for a total transaction of $2,748,467.41. Following the completion of the sale, the chief executive officer now owns 2,221,499 shares of the company’s stock, valued at approximately $155,571,574.97. The transaction was disclosed in a filing with the SEC, which is available through this link.

Griffon Trading Down 0.2 %

NYSE:GFF opened at $69.80 on Wednesday. Griffon Co. has a 12 month low of $38.33 and a 12 month high of $77.99. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The firm’s 50 day moving average is $66.34 and its 200 day moving average is $67.33. The stock has a market capitalization of $3.46 billion, a PE ratio of 18.42 and a beta of 1.29.

Griffon (NYSE:GFF) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $688.94 million. During the same period in the prior year, the company earned $1.29 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Sell-side analysts expect that Griffon Co. will post 4.87 earnings per share for the current year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. Griffon’s payout ratio is 15.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GFF shares. Stephens reiterated an “overweight” rating and issued a $85.00 price objective on shares of Griffon in a research note on Tuesday, September 10th. Robert W. Baird decreased their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a research report on Monday. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $81.50.

Institutional Trading of Griffon

Institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. grew its position in shares of Griffon by 6.6% in the second quarter. Point72 Asset Management L.P. now owns 270,805 shares of the conglomerate’s stock valued at $17,294,000 after purchasing an additional 16,740 shares in the last quarter. Quarry LP grew its holdings in Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after buying an additional 386 shares in the last quarter. Algert Global LLC increased its position in shares of Griffon by 94.3% during the second quarter. Algert Global LLC now owns 128,870 shares of the conglomerate’s stock valued at $8,230,000 after buying an additional 62,559 shares during the period. Barington Capital Group L.P. lifted its holdings in shares of Griffon by 50.0% in the second quarter. Barington Capital Group L.P. now owns 30,000 shares of the conglomerate’s stock worth $1,916,000 after buying an additional 10,000 shares in the last quarter. Finally, Caxton Associates LP boosted its position in shares of Griffon by 14.0% in the second quarter. Caxton Associates LP now owns 36,687 shares of the conglomerate’s stock valued at $2,343,000 after acquiring an additional 4,498 shares during the period. 73.22% of the stock is currently owned by hedge funds and other 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.