Insider Buying: Griffon Co. (GFF) CAO Buys 2,550 Shares of Stock

Griffon Co. (NYSE:GFF) CAO W. Christopher Durborow bought 2,550 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were acquired at an average price of $11.94 per share, for a total transaction of $30,447.00. Following the transaction, the chief accounting officer now owns 10,782 shares in the company, valued at $128,737.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of Griffon stock traded up $0.07 on Thursday, reaching $11.26. 102 shares of the stock were exchanged, compared to its average volume of 207,982. Griffon Co. has a one year low of $10.15 and a one year high of $23.55. The company has a current ratio of 2.32, a quick ratio of 1.31 and a debt-to-equity ratio of 2.34. The company has a market cap of $511.10 million, a PE ratio of 14.80 and a beta of 1.58.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, November 14th. The conglomerate reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. Griffon had a net margin of 6.35% and a return on equity of 6.94%. The company had revenue of $545.51 million during the quarter, compared to the consensus estimate of $590.58 million. During the same quarter in the prior year, the firm posted $0.36 EPS. Research analysts forecast that Griffon Co. will post 0.94 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, November 29th will be issued a dividend of $0.0725 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 2.58%. 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 is 38.16%.

A number of research analysts have issued reports on GFF shares. Robert W. Baird started coverage on shares of Griffon in a research report on Thursday, September 13th. They set a “neutral” rating and a $20.00 target price on the stock. Deutsche Bank started coverage on shares of Griffon in a research report on Friday, September 21st. They set a “hold” rating and a $18.00 target price on the stock. Goldman Sachs Group started coverage on shares of Griffon in a research report on Tuesday, October 2nd. They set a “neutral” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Griffon in a research report on Tuesday, October 30th. They set an “underweight” rating on the stock. Finally, Sidoti decreased their target price on shares of Griffon from $26.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, November 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Griffon presently has a consensus rating of “Hold” and an average price target of $17.50.

Several institutional investors have recently modified their holdings of GFF. BlackRock Inc. lifted its holdings in shares of Griffon by 12.5% during the 3rd quarter. BlackRock Inc. now owns 4,851,168 shares of the conglomerate’s stock worth $78,348,000 after acquiring an additional 539,643 shares during the period. Putnam Investments LLC lifted its stake in Griffon by 570.4% in the 2nd quarter. Putnam Investments LLC now owns 440,395 shares of the conglomerate’s stock valued at $7,839,000 after purchasing an additional 374,700 shares during the last quarter. Gabelli Funds LLC lifted its stake in Griffon by 21.9% in the 2nd quarter. Gabelli Funds LLC now owns 2,058,393 shares of the conglomerate’s stock valued at $36,639,000 after purchasing an additional 369,416 shares during the last quarter. Millennium Management LLC bought a new position in Griffon in the 2nd quarter valued at approximately $5,634,000. Finally, Wells Fargo & Company MN lifted its stake in Griffon by 106.7% in the 2nd quarter. Wells Fargo & Company MN now owns 547,844 shares of the conglomerate’s stock valued at $9,751,000 after purchasing an additional 282,845 shares during the last quarter. 66.48% of the stock is owned by institutional investors.

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About Griffon

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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Insider Buying and Selling by Quarter for Griffon (NYSE:GFF)

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