Griffon Co. (NYSE:GFF – Get Free Report) CEO Ronald J. Kramer bought 67,164 shares of Griffon inventory in a transaction dated Monday, November eleventh. The inventory was bought at a median worth of $70.08, for a complete worth of $4,706,853.12. Following the sale, the chief government officer now owns 2,102,503 shares within the firm, valued at $147,343,410.24. This commerce represents a 3.10 % lower of their place. The transaction was disclosed in a submitting with the SEC, which is accessible by way of this hyperlink.
Griffon Inventory Efficiency
Shares of GFF inventory opened at $73.80 on Friday. The inventory has a market capitalization of $3.64 billion, a PE ratio of 17.45 and a beta of 1.31. Griffon Co. has a 52-week low of $44.71 and a 52-week excessive of $80.85. The inventory’s 50-day shifting common worth is $67.53 and its 200 day shifting common worth is $66.82. The corporate has a fast ratio of 1.39, a present ratio of two.66 and a debt-to-equity ratio of 6.74.
Griffon introduced that its Board of Administrators has approved a share buyback plan on Wednesday, November thirteenth that permits the corporate to repurchase $400.00 million in excellent shares. This repurchase authorization permits the conglomerate to reacquire as much as 10.1% of its shares by way of open market purchases. Shares repurchase plans are sometimes an indication that the corporate’s administration believes its shares are undervalued.
Griffon Will increase Dividend
The agency additionally not too long ago disclosed a quarterly dividend, which will probably be paid on Wednesday, December 18th. Shareholders of report on Monday, November twenty fifth will probably be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized foundation and a yield of 0.98%. The ex-dividend date is Monday, November twenty fifth. It is a constructive change from Griffon’s earlier quarterly dividend of $0.15. Griffon’s payout ratio is at present 14.18%.
Analysts Set New Value Targets
Various analysts have not too long ago commented on the corporate. Stephens lifted their goal worth on Griffon from $85.00 to $100.00 and gave the inventory an “obese” ranking in a analysis report on Thursday. StockNews.com minimize Griffon from a “strong-buy” ranking to a “purchase” ranking in a analysis report on Friday. Lastly, Robert W. Baird boosted their worth goal on Griffon from $84.00 to $92.00 and gave the corporate an “outperform” ranking in a analysis report on Monday, October twenty first. 4 analysts have rated the inventory with a purchase ranking and one has issued a powerful purchase ranking to the inventory. In line with knowledge from MarketBeat, Griffon has a consensus ranking of “Purchase” and a consensus worth goal of $87.25.
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Institutional Buyers Weigh In On Griffon
Various institutional buyers have not too long ago added to or lowered their stakes in GFF. Quarry LP boosted its holdings in Griffon by 98.7% within the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s inventory valued at $50,000 after buying a further 386 shares within the final quarter. Picton Mahoney Asset Administration acquired a brand new stake in shares of Griffon within the 2nd quarter value roughly $55,000. Plato Funding Administration Ltd acquired a brand new stake in shares of Griffon within the 1st quarter value roughly $65,000. DekaBank Deutsche Girozentrale acquired a brand new stake in shares of Griffon within the 2nd quarter value roughly $70,000. Lastly, GAMMA Investing LLC grew its holdings in shares of Griffon by 56.9% within the third quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s inventory value $79,000 after buying a further 411 shares throughout the interval. Hedge funds and different institutional buyers personal 73.22% of the corporate’s inventory.
About Griffon
Griffon Company, by way of its subsidiaries, gives shopper {and professional}, and residential and constructing merchandise in the US, Europe, Canada, Australia, and internationally. The corporate operates by way of two segments: Dwelling and Constructing Merchandise, and Client and Skilled Merchandise. The Dwelling and Constructing Merchandise section manufactures and markets residential and industrial sectional storage doorways, rolling metal service doorways, fireplace doorways, shutters, metal safety grilles, and room dividers for the use in industrial building and restore, and residential reworking purposes.
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