Griffon Corporation (GFF) to Issue Quarterly Dividend of $0.22 on September 16th

Griffon Corporation (NYSE:GFF) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Monday, August 31st will be paid a dividend of 0.22 per share by the conglomerate on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 31st.

Griffon has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. Griffon has a dividend payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Griffon to earn $5.68 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 15.5%.

Griffon Stock Up 9.7%

Shares of NYSE:GFF opened at $102.68 on Thursday. Griffon has a 1 year low of $65.01 and a 1 year high of $104.69. The company has a market capitalization of $4.71 billion, a PE ratio of 789.88 and a beta of 1.44. The business has a fifty day moving average price of $91.19 and a two-hundred day moving average price of $85.78. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. The firm had revenue of $481.37 million for the quarter, compared to analysts’ expectations of $457.70 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The company’s quarterly revenue was down 21.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 earnings per share. Analysts forecast that Griffon will post 5.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Robert W. Baird set a $115.00 target price on Griffon in a research note on Friday, May 8th. Weiss Ratings lowered Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.