Griffon (NYSE:GFF) COO Robert Mehmel Sells 22,209 Shares of Stock

Key Points

• Griffon COO Robert Mehmel sold 22,209 shares at an average price of $102.08, generating approximately $2.27 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 2.83%.
• Griffon reported quarterly EPS of $1.51, exceeding the $1.34 consensus estimate, while revenue of $481.37 million also topped expectations. However, quarterly revenue declined 21.5% year over year.
• Shares recently traded at $107.16, near the 52-week high, and analysts maintain a “Moderate Buy” consensus with an average price target of $122.50. The company also announced a quarterly dividend of $0.22 per share.

Griffon Corporation (NYSE:GFF - Get Free Report) COO Robert Mehmel sold 22,209 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $102.08, for a total transaction of $2,267,094.72. Following the sale, the chief operating officer owned 763,691 shares in the company, valued at approximately $77,957,577.28. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Griffon Stock Up 0.8%

NYSE GFF traded up $0.85 on Friday, reaching $107.16. The company had a trading volume of 274,481 shares, compared to its average volume of 352,398. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 27.34 and a beta of 1.44. The company has a debt-to-equity ratio of 9.75, a quick ratio of 2.43 and a current ratio of 2.41. Griffon Corporation has a 1-year low of $65.01 and a 1-year high of $108.57. The company's fifty day moving average is $91.55 and its 200-day moving average is $85.93.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.17. The firm had revenue of $481.37 million for the quarter, compared to the consensus estimate of $457.70 million. Griffon had a return on equity of 249.31% and a net margin of 8.08%.The company's revenue for the quarter was down 21.5% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. On average, research analysts forecast that Griffon Corporation will post 5.17 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.8%. Griffon's dividend payout ratio (DPR) is presently 676.92%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GFF. Hantz Financial Services Inc. grew its stake in Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Griffon in the 1st quarter valued at approximately $29,000. Hilton Head Capital Partners LLC bought a new position in shares of Griffon in the fourth quarter valued at $34,000. Caitong International Asset Management Co. Ltd increased its holdings in Griffon by 362.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate's stock worth $36,000 after buying an additional 388 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in Griffon during the second quarter worth $37,000. 73.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GFF has been the subject of a number of recent research reports. Stephens upped their price target on Griffon from $115.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday. Wall Street Zen downgraded shares of Griffon from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Robert W. Baird set a $125.00 price objective on shares of Griffon in a research report on Thursday. Zacks Research upgraded shares of Griffon from a "strong sell" rating to a "hold" rating in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Griffon from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $122.50.

Griffon Company Profile

Griffon Corporation NYSE: GFF is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon's portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon's Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.

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