|I remember this company when it traded on the AMEX. Today's offering of Ply Gem is reminding me how unappreciated GFF's Coplay division is. Coplay is the largest maker of garage doors. Maybe COO Bob Hehmel know this? |
Mehmel Robert F who is President & COO at Griffon Corporation ( NYSE:GFF), bought 10,000 shares at $11.72 per share for a total value of $117,189. The shares recently traded at $11.65, down $0.07, or 0.6% since the insider buy.
Shares of Ply Gem Holdings rise in market debut
Thu May 23, 2013 10:01am EDT
<span class="articleLocation">May 23 (Reuters) - Shares of Ply Gem Holdings Inc, which makes building products for homes, rose as much as 10 percent in their market debut, valuing the company at about $1.5 billion, as investors tap into companies that cater to the recovering U.S. housing market.
The North Carolina-based company's shares opened at $22.35 in their New York Stock Exchange debut, 6 percent above the IPO price of $21.
Ply Gem Holdings sold 15.8 million shares in the offering, raising $332 million, after pricing its offering above its planned $18 to $20 price range.
Private equity firm CI Capital Partners will hold 68.4 percent of the company after the offering if the underwriters exercise full rights to buy additional shares, Ply Gem said in a filing with the U.S. Securities and Exchange Commission.
The company, which operates brands such as Ply Gem, Mastic Home Exteriors and Variform, makes customized fencing, windows, doors and other home exterior products.