Robert F. Mehmel, President and COO of Griffon Corp (NYSE:GFF), recently sold 912 shares of the company’s common stock. The shares were sold at a weighted average price of $70.06, totaling approximately $63,894. Following this transaction, Mehmel retains direct ownership of 746,611 shares. Additionally, he holds an indirect ownership of 3,999 shares through an Employee Stock Ownership Plan (ESOP). The sales were executed under a pre-arranged 10b5-1 trading plan.
InvestingPro Insights
While Robert F. Mehmel's recent stock sale might raise eyebrows, a deeper look at Griffon Corp's (NYSE:GFF) financial metrics and market performance reveals a more nuanced picture. According to InvestingPro data, Griffon's market capitalization stands at $3.32 billion, with a price-to-earnings ratio of 17.45, suggesting a reasonable valuation relative to its earnings.
Notably, Griffon has demonstrated strong financial performance and shareholder-friendly policies. An InvestingPro Tip highlights that management has been aggressively buying back shares, indicating confidence in the company's future prospects. This aligns with another tip pointing out Griffon's high shareholder yield, which combines dividend payments and share repurchases.
The company's dividend policy is particularly noteworthy. Griffon has maintained dividend payments for 14 consecutive years and has raised its dividend for 4 consecutive years. This consistent track record of returning value to shareholders is complemented by a current dividend yield of 0.88%.
Griffon's financial health appears robust, with liquid assets exceeding short-term obligations. This strong balance sheet position provides the company with financial flexibility and stability. Moreover, the company has been profitable over the last twelve months, with analysts predicting continued profitability this year.
Investors considering Griffon might be interested to know that InvestingPro offers 13 additional tips for this stock, providing a more comprehensive analysis for those seeking deeper insights.
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