Griffon (NYSE:GFF – Get Free Report) issued its earnings results on Wednesday. The conglomerate reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07), Briefing.com reports. 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 90.02% and a net margin of 7.48%. Griffon’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 EPS. Griffon updated its FY 2024 guidance to EPS.
Griffon Trading Down 20.2 %
Griffon stock traded down $14.06 during trading hours on Wednesday, reaching $55.50. The stock had a trading volume of 1,463,092 shares, compared to its average volume of 431,490. Griffon has a 52 week low of $38.33 and a 52 week high of $77.99. The company has a debt-to-equity ratio of 7.80, a current ratio of 2.78 and a quick ratio of 1.56. The company has a fifty day simple moving average of $67.05 and a 200-day simple moving average of $67.61. The stock has a market cap of $2.75 billion, a PE ratio of 15.18 and a beta of 1.29.
Griffon Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.08%. Griffon’s dividend payout ratio (DPR) is presently 15.83%.
Analysts Set New Price Targets
View Our Latest Analysis on Griffon
Insider Activity at Griffon
In related news, CEO Ronald J. Kramer sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the transaction, the chief executive officer now owns 2,500,746 shares in the company, valued at $167,725,034.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Griffon news, CAO W. Christopher Durborow sold 13,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $66.88, for a total value of $869,440.00. Following the sale, the chief accounting officer now owns 48,368 shares in the company, valued at $3,234,851.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ronald J. Kramer sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the completion of the sale, the chief executive officer now owns 2,500,746 shares in the company, valued at approximately $167,725,034.22. The disclosure for this sale can be found here. 16.10% of the stock is owned by corporate insiders.
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.
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