Ronald J. Kramer Sells 6,532 Shares of Griffon Co. (NYSE:GFF) Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 6,532 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $70.06, for a total value of $457,631.92. Following the transaction, the chief executive officer now owns 2,169,667 shares in the company, valued at $152,006,870.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Griffon Stock Down 0.6 %

Shares of NYSE:GFF traded down $0.41 during mid-day trading on Friday, hitting $67.67. 320,213 shares of the company traded hands, compared to its average volume of 427,709. The firm has a market cap of $3.35 billion, a P/E ratio of 17.85 and a beta of 1.29. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50. Griffon Co. has a 52-week low of $38.33 and a 52-week high of $77.99. The firm’s 50 day simple moving average is $66.30 and its 200 day simple moving average is $67.04.

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

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. Griffon’s payout ratio is currently 15.83%.

Institutional Investors Weigh In On Griffon

A number of hedge funds have recently bought and sold shares of the business. Benson Investment Management Company Inc. acquired a new stake in Griffon during the 3rd quarter valued at approximately $3,182,000. Creative Planning acquired a new stake in Griffon during the 3rd quarter valued at approximately $502,000. Inspire Investing LLC grew its stake in Griffon by 228.8% during the 3rd quarter. Inspire Investing LLC now owns 18,184 shares of the conglomerate’s stock valued at $1,273,000 after purchasing an additional 12,653 shares in the last quarter. Ritholtz Wealth Management grew its stake in Griffon by 5.0% during the 3rd quarter. Ritholtz Wealth Management now owns 3,913 shares of the conglomerate’s stock valued at $274,000 after purchasing an additional 187 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Griffon by 22.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,109 shares of the conglomerate’s stock valued at $3,437,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GFF has been the topic of several recent analyst reports. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 12th. Robert W. Baird cut their price objective on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Stephens restated an “overweight” rating and issued a $85.00 price objective on shares of Griffon in a report on Tuesday, September 10th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Griffon presently has an average rating of “Buy” and an average target price of $81.50.

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.