Griffon Corporation (GFF) To Go Ex-Dividend on August 31st

Griffon Corporation (NYSE:GFF) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Monday, August 31st will be given 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 increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Griffon has a payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Griffon to earn $6.30 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 14.0%.

Griffon Stock Down 0.2%

GFF stock opened at $99.02 on Friday. Griffon has a fifty-two week low of $65.01 and a fifty-two week high of $108.57. The business’s 50-day moving average is $95.68 and its two-hundred day moving average is $87.96. The company has a debt-to-equity ratio of 9.75, a quick ratio of 1.79 and a current ratio of 2.41. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 25.26 and a beta of 1.44.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.17. Griffon had a return on equity of 249.31% and a net margin of 8.08%.The business had revenue of $481.37 million for the quarter, compared to analysts’ expectations of $457.70 million. During the same period last year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was down 21.5% on a year-over-year basis. As a group, analysts forecast that Griffon will post 5.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Stephens increased their price target on shares of Griffon from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Griffon in a research note on Friday, August 7th. Robert W. Baird set a $125.00 price objective on shares of Griffon in a research report on Thursday, August 6th. Finally, Zacks Research upgraded Griffon from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Griffon has an average rating of “Buy” and an average target price of $122.50.

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.