Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer Sells 67,164 Shares of Stock

Griffon Co. (NYSE:GFF) CEO Ronald J. Kramer sold 67,164 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $70.08, for a total value of $4,706,853.12. Following the transaction, the chief executive officer now owns 2,102,503 shares in the company, valued at $147,343,410.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Griffon Trading Up 18.2 %

NYSE:GFF opened at $80.51 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. The stock has a fifty day simple moving average of $67.01 and a 200-day simple moving average of $66.70. Griffon Co. has a 52-week low of $44.03 and a 52-week high of $80.85. The company has a market capitalization of $3.97 billion, a PE ratio of 21.58 and a beta of 1.31.

Griffon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.89%. This is a boost from Griffon’s previous quarterly dividend of $0.15. Griffon’s dividend payout ratio (DPR) is 16.09%.

Griffon announced that its Board of Directors has approved a share repurchase plan on Wednesday, November 13th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on GFF. Robert W. Baird raised their target price on Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Stephens reissued an “overweight” rating and set a $85.00 price objective on shares of Griffon in a report on Tuesday, September 10th. Finally, StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $83.50.

Institutional Investors Weigh In On Griffon

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in shares of Griffon by 1.2% during the first quarter. BNP Paribas Financial Markets now owns 29,566 shares of the conglomerate’s stock valued at $2,168,000 after buying an additional 355 shares during the period. SG Americas Securities LLC lifted its stake in shares of Griffon by 14.2% during the 1st quarter. SG Americas Securities LLC now owns 4,014 shares of the conglomerate’s stock worth $294,000 after purchasing an additional 498 shares during the period. Sei Investments Co. boosted its holdings in shares of Griffon by 62.0% during the first quarter. Sei Investments Co. now owns 47,724 shares of the conglomerate’s stock worth $3,500,000 after purchasing an additional 18,256 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Griffon by 353.3% in the first quarter. Russell Investments Group Ltd. now owns 15,123 shares of the conglomerate’s stock valued at $1,109,000 after purchasing an additional 11,787 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in Griffon by 46.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 18,414 shares of the conglomerate’s stock valued at $1,350,000 after purchasing an additional 5,880 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

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.