Griffon Co. (NYSE:GFF) CFO Brian G. Harris acquired 1,000 shares of Griffon stock in a transaction on Monday, December 3rd. The stock was purchased at an average price of $12.10 per share, with a total value of $12,100.00. Following the transaction, the chief financial officer now directly owns 69,777 shares in the company, valued at approximately $844,301.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Griffon stock opened at $11.19 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.32 and a debt-to-equity ratio of 2.34. The company has a market cap of $532.57 million, a P/E ratio of 15.14 and a beta of 1.58. Griffon Co. has a one year low of $10.15 and a one year high of $23.55.
Griffon (NYSE:GFF) last posted its earnings results on Wednesday, November 14th. The conglomerate reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The business had revenue of $545.51 million during the quarter, compared to the consensus estimate of $590.58 million. Griffon had a return on equity of 6.94% and a net margin of 6.35%. During the same quarter last year, the company earned $0.36 EPS. On average, equities research analysts forecast that Griffon Co. will post 0.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, November 29th will be given a dividend of $0.0725 per share. This represents a $0.29 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, November 28th. This is an increase from Griffon’s previous quarterly dividend of $0.07. Griffon’s dividend payout ratio (DPR) is 38.16%.
A number of analysts have commented on GFF shares. Sidoti reduced their price objective on Griffon from $26.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, November 15th. Robert W. Baird reduced their price objective on Griffon from $18.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, November 15th. Deutsche Bank started coverage on Griffon in a research report on Friday, September 21st. They issued a “hold” rating and a $18.00 price objective for the company. Goldman Sachs Group started coverage on Griffon in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Zacks Investment Research downgraded Griffon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.50.
Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of Griffon by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 81,453 shares of the conglomerate’s stock worth $1,450,000 after buying an additional 2,946 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Griffon by 34.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,714 shares of the conglomerate’s stock worth $244,000 after buying an additional 3,542 shares during the period. Comerica Bank lifted its position in shares of Griffon by 12.2% during the 2nd quarter. Comerica Bank now owns 35,568 shares of the conglomerate’s stock worth $658,000 after buying an additional 3,871 shares during the period. Teachers Advisors LLC lifted its position in shares of Griffon by 7.6% during the 3rd quarter. Teachers Advisors LLC now owns 57,305 shares of the conglomerate’s stock worth $925,000 after buying an additional 4,062 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Griffon by 6.1% during the 2nd quarter. California Public Employees Retirement System now owns 77,553 shares of the conglomerate’s stock worth $1,380,000 after buying an additional 4,429 shares during the period. Institutional investors and hedge funds own 66.48% of the company’s stock.
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Griffon Corporation, through its wholly-owned subsidiaries, engages in home and building, telephonics, and plastic products businesses worldwide. Its Home & Building Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; and residential and commercial garage doors to professional dealers and home center retail chains.
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