Three top Griffon Corporation executives, including CFO Brian G. Harris, sold shares following a post-earnings stock price jump. Harris sold 11,050 shares at a weighted-average price of $103.27, reducing his direct holdings by 8% while retaining approximately 139,000 total shares worth $14.28 million. The sales occurred after the company reported fiscal third-quarter revenue of $481 million, up 7%, and adjusted earnings of $1.51 per share, reaffirming full-year targets of $1.8 billion in revenue and $458 million in adjusted EBITDA. The stock rose 10% on earnings day and another 3% the following day, reaching a record high and marking a 50% gain over the past year. The coordinated insider selling contrasts with the company's ongoing share buyback program, which has repurchased over 12 million shares since April 2023.
Griffon CorporationInsider selling by CFO and other executives after earnings-driven stock surge, despite strong results.
