Griffon Co. (NYSE:GFF) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Griffon Co. (NYSE:GFF - Get Free Report) have received an average recommendation of "Buy" from the four analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $83.50.

A number of equities analysts recently commented on the company. StockNews.com upgraded Griffon from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 12th. Robert W. Baird boosted their price target on shares of Griffon from $84.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Finally, Stephens restated an "overweight" rating and set a $85.00 price objective on shares of Griffon in a research report on Tuesday, September 10th.

Insider Buying and Selling

In other Griffon news, COO Robert F. Mehmel sold 912 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $70.06, for a total value of $63,894.72. Following the transaction, the chief operating officer now owns 746,611 shares of the company's stock, valued at $52,307,566.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Seth L. Kaplan sold 4,844 shares of Griffon stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $339,080.00. Following the completion of the sale, the senior vice president now owns 198,571 shares in the company, valued at approximately $13,899,970. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert F. Mehmel sold 912 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $70.06, for a total value of $63,894.72. Following the completion of the sale, the chief operating officer now directly owns 746,611 shares in the company, valued at approximately $52,307,566.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,464 shares of company stock valued at $17,244,450. 16.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Griffon

A number of institutional investors have recently modified their holdings of the company. Quarry LP lifted its holdings in Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate's stock worth $50,000 after buying an additional 386 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Griffon during the second quarter worth approximately $55,000. Plato Investment Management Ltd acquired a new stake in Griffon in the first quarter valued at approximately $65,000. DekaBank Deutsche Girozentrale purchased a new position in Griffon in the second quarter worth approximately $70,000. Finally, GAMMA Investing LLC grew its holdings in Griffon by 56.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate's stock worth $79,000 after acquiring an additional 411 shares in the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Griffon Price Performance

NYSE GFF traded up $0.24 during mid-day trading on Wednesday, hitting $63.63. The stock had a trading volume of 230,075 shares, compared to its average volume of 428,095. The firm's 50 day moving average is $66.54 and its 200 day moving average is $66.66. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 17.06 and a beta of 1.29. Griffon has a twelve month low of $39.09 and a twelve month high of $77.99.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). The business had revenue of $647.80 million during the quarter, compared to analysts' expectations of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The business's quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. Equities research analysts forecast that Griffon will post 4.87 earnings per share for the current fiscal year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Wednesday, August 28th. Griffon's dividend payout ratio (DPR) is presently 16.09%.

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.