James W. Sight, a director at Griffon Corp (NYSE:GFF), has sold 3,660 shares of the company's common stock. The shares were sold at an average price of $76.42, totaling approximately $279,697. Following this transaction, Sight holds 16,708 shares in the company. The sale was executed on November 14, 2024, as detailed in a recent SEC filing.
In other recent news, Griffon Corporation has delivered strong financial results for the fourth quarter, with Stephens, a financial services firm, maintaining an Overweight rating on the stock and raising its price target from $85.00 to $100.00. The company's Home & Building Products (HBP) segment played a significant role in this performance, contributing to a projected $1 billion in free cash flow over the next three years. Despite a 6% decline in revenue, the Consumer and Professional Products (CPP) segment saw a 44% increase in EBITDA to $73 million.
Griffon also repurchased 4.8 million shares and increased its quarterly dividend by 20% to $0.18 per share. The company anticipates a consistent revenue of $2.6 billion for fiscal 2025, with adjusted EBITDA expected to range between $575 million and $600 million. These recent developments highlight Griffon's strategic financial planning and its commitment to improving profitability and shareholder value.
Despite the challenging macroeconomic environment, Griffon's management provided sales and adjusted EBITDA guidance for fiscal year 2025. The management also projects approximately $1 billion in free cash flow over the next three years, suggesting a substantial increase in net income during that period. These financial forecasts and ongoing strategic initiatives reflect Griffon's financial resilience and potential for continued growth.
InvestingPro Insights
The recent insider sale by Director James W. Sight comes at a time when Griffon Corp (NYSE:GFF) is experiencing strong market performance. According to InvestingPro data, the company's stock has shown impressive returns, with a 76.27% price total return over the past year and a 21.43% return in the last three months. This robust performance is reflected in the stock's current price, which stands at 91.29% of its 52-week high.
InvestingPro Tips highlight that Griffon has maintained dividend payments for 14 consecutive years, demonstrating a commitment to shareholder returns. Additionally, the company's management has been aggressively buying back shares, which could be seen as a sign of confidence in the company's future prospects.
From a valuation perspective, Griffon is trading at a high Price / Book multiple of 15.69, which may indicate that the market has high expectations for the company's growth potential. The company's P/E ratio (adjusted) of 14.77 for the last twelve months suggests that investors are willing to pay a premium for Griffon's earnings.
It's worth noting that Griffon's financial health appears solid, with InvestingPro data showing that liquid assets exceed short-term obligations. This financial stability is complemented by the company's profitability, as analysts predict Griffon will remain profitable this year.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for Griffon Corp, providing a deeper understanding of the company's financial position and market outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.