Robert F. Mehmel Sells 12,943 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 12,943 shares of Griffon stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $68.19, for a total transaction of $882,583.17. Following the sale, the chief operating officer now owns 762,914 shares in the company, valued at approximately $52,023,105.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Griffon Stock Down 3.0 %

Shares of NYSE:GFF opened at $67.88 on Friday. 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 company has a fifty day simple moving average of $66.32 and a 200 day simple moving average of $67.36. The firm has a market cap of $3.36 billion, a PE ratio of 17.91 and a beta of 1.29. Griffon Co. has a 12-month low of $38.33 and a 12-month high of $77.99.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). The company had revenue of $647.80 million during the quarter, compared to the consensus estimate of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. On average, equities research analysts anticipate that Griffon Co. will post 4.87 EPS for the current fiscal year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.60 annualized dividend and a yield of 0.88%. Griffon’s payout ratio is 15.83%.

Institutional Trading of Griffon

Several institutional investors have recently added to or reduced their stakes in the business. Evergreen Capital Management LLC increased its stake in Griffon by 5.3% during the second quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock valued at $256,000 after purchasing an additional 201 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in Griffon by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 39,526 shares of the conglomerate’s stock valued at $2,899,000 after purchasing an additional 213 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in Griffon by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 17,753 shares of the conglomerate’s stock valued at $1,134,000 after purchasing an additional 231 shares during the last quarter. National Bank of Canada FI increased its stake in Griffon by 2.2% during the second quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate’s stock valued at $930,000 after purchasing an additional 311 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Griffon by 3.0% during the second quarter. Arizona State Retirement System now owns 11,074 shares of the conglomerate’s stock valued at $707,000 after purchasing an additional 322 shares during the last quarter. Institutional investors own 73.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on GFF shares. StockNews.com lowered shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Stephens reiterated an “overweight” rating and set a $85.00 price objective on shares of Griffon in a research note on Tuesday, September 10th. Finally, Robert W. Baird dropped their price objective on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Griffon has a consensus rating of “Buy” and an average price target of $81.50.

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.