Shares of Griffon Corporation (NYSE:GFF - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $97.58 and last traded at $97.4340, with a volume of 30776 shares. The stock had previously closed at $94.86.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on GFF shares. Zacks Research upgraded shares of Griffon from a "strong sell" rating to a "hold" rating in a report on Friday, May 8th. Weiss Ratings cut shares of Griffon from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Robert W. Baird set a $115.00 price objective on Griffon in a report on Friday, May 8th. Finally, Wall Street Zen cut Griffon from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $115.00.
Check Out Our Latest Stock Report on GFF
Griffon Stock Up 1.6%
The business's fifty day moving average price is $88.34 and its 200 day moving average price is $82.55. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 741.43 and a beta of 1.42. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77.
Griffon (NYSE:GFF - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. The firm had revenue of $421.86 million during the quarter, compared to analysts' expectations of $414.63 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. Griffon's quarterly revenue was down 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. On average, equities analysts expect that Griffon Corporation will post 5.17 EPS for the current year.
Griffon Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 29th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.9%. Griffon's dividend payout ratio (DPR) is currently 676.92%.
Insider Activity
In other news, COO Robert F. Mehmel sold 5,501 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $95.18, for a total value of $523,585.18. Following the transaction, the chief operating officer owned 809,788 shares of the company's stock, valued at approximately $77,075,621.84. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald J. Kramer sold 100,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $94.92, for a total value of $9,492,000.00. Following the sale, the chief executive officer owned 1,784,297 shares of the company's stock, valued at $169,365,471.24. This trade represents a 5.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 112,338 shares of company stock worth $10,667,788 in the last 90 days. 10.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Griffon
Several institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its holdings in shares of 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 acquiring an additional 211 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Griffon in the first quarter valued at about $29,000. Huntington National Bank boosted its holdings in Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate's stock valued at $34,000 after purchasing an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Griffon in the 4th quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Griffon by 362.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate's stock worth $36,000 after purchasing an additional 388 shares during the period. 73.22% of the stock is owned by institutional investors and hedge funds.
Griffon Company Profile
(
Get Free Report)
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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