In a recent transaction, W. Christopher Durborow, Vice President and Chief Accounting Officer of Griffon Corp (NYSE:GFF), sold 5,170 shares of the company's common stock. The shares were sold at a weighted average price of $80.38, generating a total of $415,564. The sale comes as Griffon's stock has shown remarkable strength, delivering a 63.64% return over the past year. According to InvestingPro analysis, the company's stock is currently trading near its Fair Value, with analysts setting price targets between $92 and $115. Following this sale, Durborow holds 44,306 shares directly. Additionally, he owns 3,237 shares indirectly through an Employee Stock Ownership Plan (ESOP).
This transaction was reported in a Form 4 filing with the Securities and Exchange Commission. The filing details that the shares were sold in multiple transactions at prices ranging from $80.13 to $80.71.
In other recent news, Griffon Corporation has been making headlines with its robust fiscal fourth-quarter results, which exceeded expectations. Both Baird and Stephens, financial services firms, increased their stock price targets for Griffon, maintaining an Outperform and Overweight rating respectively. This followed a significant expansion in Griffon's adjusted EBITDA margin, attributed to lower material costs and a successful global sourcing strategy.
Griffon also announced a new $400 million buyback program, with plans to generate over $1 billion in free cash flow over the next three years. 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.
The company's Home & Building Products segment is expected to provide a steady revenue stream, while the Consumer and Professional Products segment saw a 6% decline in revenue, despite a 44% increase in EBITDA to $73 million. These recent developments highlight Griffon's strategic financial planning and its commitment to improving profitability and shareholder value.
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