Griffon Co. (NYSE:GFF) Director Sells $242,400.00 in Stock

Griffon Co. (NYSE:GFF - Get Free Report) Director Cheryl L. Turnbull sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.80, for a total value of $242,400.00. Following the transaction, the director now owns 30,730 shares of the company's stock, valued at approximately $2,482,984. This represents a 8.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Griffon Price Performance

NYSE:GFF traded up $0.62 during midday trading on Tuesday, hitting $79.26. 218,276 shares of the stock were exchanged, compared to its average volume of 327,469. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 16.18 and a beta of 1.43. Griffon Co. has a one year low of $55.01 and a one year high of $86.73. The business has a 50-day moving average price of $75.78 and a two-hundred day moving average price of $71.07. The company has a current ratio of 2.51, a quick ratio of 1.44 and a debt-to-equity ratio of 6.44.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. Sell-side analysts predict that Griffon Co. will post 5.51 EPS for the current year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, February 25th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.72 annualized dividend and a dividend yield of 0.91%. Griffon's dividend payout ratio is currently 14.69%.

Griffon declared that its board has initiated a stock buyback plan on Wednesday, November 13th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GFF. Grove Bank & Trust acquired a new stake in Griffon during the 4th quarter valued at $33,000. R Squared Ltd acquired a new stake in Griffon during the 4th quarter valued at $37,000. Smartleaf Asset Management LLC raised its stake in Griffon by 343.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock valued at $78,000 after purchasing an additional 845 shares during the period. GAMMA Investing LLC raised its stake in Griffon by 56.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate's stock valued at $79,000 after purchasing an additional 411 shares during the period. Finally, CWM LLC raised its stake in Griffon by 1,024.8% during the 3rd quarter. CWM LLC now owns 1,136 shares of the conglomerate's stock valued at $80,000 after purchasing an additional 1,035 shares during the period. Institutional investors own 73.22% of the company's stock.

Wall Street Analysts Forecast Growth

GFF has been the subject of several analyst reports. StockNews.com downgraded Griffon from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Robert W. Baird boosted their target price on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Stephens boosted their target price on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Raymond James reissued a "strong-buy" rating and set a $95.00 target price (up previously from $92.00) on shares of Griffon in a report on Thursday, February 6th.

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.