Griffon Corp. (GFF) experienced a notable increase of 9.38% in its stock price during Wednesday's trading session, climbing $6.97 to close at $81.28. This upward momentum followed the announcement of robust earnings for the first quarter. The company's net income soared to $70.9 million, equating to $1.49 per share, in comparison to $42.2 million, or $0.82 per share, achieved in the same period the previous year.
Currently, GFF's stock is valued at $81.27, representing an increase of $6.97 from its preceding closing price of $74.31. Throughout the day's trading, the stock experienced fluctuations, reaching a peak of $84.00 and dipping to a low of $77.66. A total of 315,638 shares were traded, which is below the average daily trading volume of 424,074 shares.
The impressive earnings performance significantly contributed to the stock's rise, with its value remaining nestled within its 52-week range of $55.01 to $86.73.
