Following these transactions, Harris retains direct ownership of 166,259 shares. Additionally, Harris also disposed of 8,879 shares on November 30, 2024, to satisfy tax withholding obligations related to the vesting of restricted stock. These shares were valued at $84.30 each, amounting to a total of $748,499. For deeper insights into Griffon's valuation metrics and 12 additional exclusive ProTips, visit InvestingPro, where you'll find comprehensive analysis in the Pro Research Report. For deeper insights into Griffon's valuation metrics and 12 additional exclusive ProTips, visit InvestingPro, where you'll find comprehensive analysis in the Pro Research Report.
Following these transactions, Harris retains direct ownership of 166,259 shares. Additionally, Harris also disposed of 8,879 shares on November 30, 2024, to satisfy tax withholding obligations related to the vesting of restricted stock. These shares were valued at $84.30 each, amounting to a total of $748,499.
In other recent news, Griffon Corp (NYSE:GFF) has been in the spotlight for its strong fiscal fourth-quarter results, surpassing expectations on multiple fronts. Analysts from Baird and Stephens have responded positively, raising their stock price targets to $100. The robust performance was attributed to the company's strategic approach to capital allocation, including a new $400 million buyback program and expectations of generating over $1 billion in free cash flow over the next three years.
Baird and Stephens maintain an Outperform and Overweight rating on Griffon Corp respectively, citing several company-specific value drivers that support a positive outlook. Despite a challenging macroeconomic environment, Griffon's management provided sales and adjusted EBITDA guidance for fiscal year 2025 that was slightly below analyst estimates, but the implied margin guidance exceeded expectations.
In terms of segment performance, Griffon Corp's Home & Building Products (HBP) segment is projected to contribute a steady revenue stream. However, the Consumer and Professional Products (CPP) segment saw a 6% decline in revenue, despite a 44% increase in EBITDA to $73 million. These recent developments highlight Griffon Corp's strategic financial planning and its commitment to improving profitability and shareholder value.
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