Goldman Sachs Group Inc Sells 5,583,375 Shares of Griffon Co. (NYSE:GFF) Stock

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Griffon Co. (NYSE:GFF) major shareholder Goldman Sachs Group Inc sold 5,583,375 shares of the company’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $17.06, for a total value of $95,252,377.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of NYSE:GFF opened at $17.80 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.56 and a debt-to-equity ratio of 2.28. Griffon Co. has a 52-week low of $17.00 and a 52-week high of $24.50. The firm has a market capitalization of $798.43 million, a PE ratio of 26.92 and a beta of 1.36.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 21st. Investors of record on Friday, May 25th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $0.28 annualized dividend and a yield of 1.57%.

Several analysts have weighed in on GFF shares. ValuEngine lowered Griffon from a “hold” rating to a “sell” rating in a report on Wednesday, June 13th. Sidoti started coverage on Griffon in a report on Friday, March 9th. They issued a “buy” rating on the stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in Griffon by 3.0% during the first quarter. Principal Financial Group Inc. now owns 232,851 shares of the conglomerate’s stock worth $4,250,000 after buying an additional 6,704 shares during the period. GSA Capital Partners LLP lifted its position in Griffon by 34.6% during the first quarter. GSA Capital Partners LLP now owns 49,714 shares of the conglomerate’s stock worth $907,000 after buying an additional 12,769 shares during the period. California Public Employees Retirement System lifted its position in Griffon by 5.7% during the first quarter. California Public Employees Retirement System now owns 73,124 shares of the conglomerate’s stock worth $1,335,000 after buying an additional 3,953 shares during the period. Teton Advisors Inc. lifted its position in Griffon by 0.9% during the first quarter. Teton Advisors Inc. now owns 426,579 shares of the conglomerate’s stock worth $7,785,000 after buying an additional 3,876 shares during the period. Finally, BlackRock Inc. lifted its position in Griffon by 2.4% during the first quarter. BlackRock Inc. now owns 3,854,229 shares of the conglomerate’s stock worth $70,340,000 after buying an additional 88,519 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

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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