Insider Buying: Griffon Co. (NYSE:GFF) Director Acquires 10,625 Shares of Stock

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Griffon Co. (NYSE:GFF) Director Cheryl L. Turnbull bought 10,625 shares of the company’s stock in a transaction that occurred on Monday, June 18th. The shares were purchased at an average price of $18.00 per share, with a total value of $191,250.00. Following the transaction, the director now directly owns 15,148 shares in the company, valued at $272,664. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of NYSE:GFF traded up $0.05 during trading on Thursday, hitting $17.55. 6,812 shares of the company’s stock were exchanged, compared to its average volume of 460,468. Griffon Co. has a 1-year low of $17.45 and a 1-year high of $24.50. The company has a debt-to-equity ratio of 2.28, a current ratio of 2.45 and a quick ratio of 1.56. The stock has a market cap of $802.99 million, a price-to-earnings ratio of 27.08 and a beta of 1.36.

Griffon (NYSE:GFF) last released its quarterly earnings data on Thursday, May 3rd. The conglomerate reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. Griffon had a net margin of 6.53% and a return on equity of 6.62%. The business had revenue of $478.56 million for the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 21st. Investors of record on Friday, May 25th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, May 24th.

Several research firms have weighed in on GFF. ValuEngine cut shares of Griffon from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th. Sidoti started coverage on shares of Griffon in a research report on Friday, March 9th. They issued a “buy” rating for the company.

A number of institutional investors have recently added to or reduced their stakes in GFF. Teacher Retirement System of Texas bought a new position in Griffon in the fourth quarter valued at approximately $212,000. Jefferies Group LLC bought a new position in Griffon in the fourth quarter valued at approximately $225,000. MetLife Investment Advisors LLC bought a new position in Griffon in the fourth quarter valued at approximately $294,000. Stone Ridge Asset Management LLC bought a new position in Griffon in the fourth quarter valued at approximately $472,000. Finally, NJ State Employees Deferred Compensation Plan lifted its stake in Griffon by 26.7% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 38,000 shares of the conglomerate’s stock valued at $694,000 after buying an additional 8,000 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

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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