Victor Eugene Renuart, a director at Griffon Corp (NYSE:GFF), has recently sold shares of the company's common stock. According to a Form 4 filing with the Securities and Exchange Commission, Renuart disposed of a total of 14,130 shares across multiple transactions, spanning from July 2019 to November 2024. The sales were executed at prices ranging from $16.00 to $84.46 per share, resulting in a total transaction value of approximately $663,427. The stock has shown remarkable strength, delivering an 85% return over the past year according to InvestingPro data.
The most recent transaction occurred on November 26, 2024, when Renuart sold 4,500 shares at a price of $84.46 per share. Following this latest sale, Renuart retains ownership of 19,312 shares of Griffon Corp's common stock. With the stock currently trading near its 52-week high of $86.73 and showing signs of being slightly overvalued based on InvestingPro's Fair Value analysis, investors might want to explore the comprehensive Pro Research Report available for GFF, which is part of the platform's coverage of over 1,400 US stocks.
In other recent news, Griffon Corporation has demonstrated a strong fiscal performance. The company's fiscal fourth-quarter results exceeded expectations, with a significant expansion in its adjusted EBITDA margin. This growth was credited to lower material costs and the successful implementation of a global sourcing strategy. Griffon Corp has also made strategic plans to generate over $1 billion in free cash flow over the next three years, which will support share repurchases, debt reduction, and strategic investments. Despite a 6% decline in revenue, the Consumer and Professional Products (CPP) segment saw a 44% increase in EBITDA to $73 million. Analysts from Baird and Stephens have both raised their price targets on Griffon Corp shares, maintaining positive ratings on the stock. These recent developments highlight Griffon Corp's strategic financial planning and its commitment to improving profitability and shareholder value.
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