Mon Sep 23 23:18:47 UTC 2024: ## Griffon Co. COO Sells Shares, Stock Up Despite Earnings Miss

**New York, NY (MarketBeat News) –** Robert F. Mehmel, Chief Operating Officer of Griffon Co. (NYSE: GFF), sold 1,205 shares of the company’s stock on Friday, September 20th for a total of $84,482.55. This transaction leaves Mehmel with a direct ownership of 754,046 shares, valued at approximately $52.87 million.

Despite the executive sale, Griffon shares rose $2.06 during Monday’s midday trading, reaching $69.94. The company’s trading volume was 682,249 shares, exceeding its average volume of 441,178.

The stock’s recent rise comes after Griffon reported a disappointing quarterly earnings report on August 7th, missing analyst estimates for both earnings per share (EPS) and revenue. The company reported $1.24 EPS for the quarter, $0.07 less than the consensus estimate of $1.31. Revenue came in at $647.80 million, falling short of the expected $688.94 million.

Despite the earnings miss, analysts remain optimistic about Griffon’s future. Four research analysts have rated the stock with a “Buy” rating and one has assigned a “Strong Buy” rating. The consensus target price for the stock is $81.50, according to MarketBeat.com.

Institutional investors have shown continued interest in Griffon, with several firms acquiring or increasing their stakes in the company over recent quarters. Notably, Quarry LP boosted its stake in Griffon by 98.7% during the second quarter, acquiring an additional 386 shares.

Griffon Corporation is a leading manufacturer of consumer and professional, and home and building products, operating through two segments: Home and Building Products and Consumer and Professional Products. The company’s products are sold globally, with a strong presence in the United States, Europe, Canada, Australia, and other international markets.

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