Griffon Co. to Issue Quarterly Dividend of $0.18 (NYSE:GFF)

Griffon Co. (NYSE:GFF - Get Free Report) declared a quarterly dividend on Thursday, May 8th, RTT News reports. Investors of record on Friday, May 30th will be given a dividend of 0.18 per share by the conglomerate on Wednesday, June 18th. This represents a $0.72 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, May 30th.

Griffon has raised its dividend payment by an average of 24.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Griffon has a payout ratio of 11.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Griffon to earn $6.44 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 11.2%.

Griffon Stock Performance

NYSE GFF traded up $1.49 during trading hours on Tuesday, hitting $74.42. The company had a trading volume of 249,321 shares, compared to its average volume of 441,443. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. Griffon has a 1-year low of $55.01 and a 1-year high of $86.73. The company has a market cap of $3.58 billion, a PE ratio of 15.19 and a beta of 1.17. The business has a 50 day moving average of $69.71 and a 200-day moving average of $73.10.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.10. The business had revenue of $611.75 million during the quarter, compared to the consensus estimate of $618.23 million. Griffon had a net margin of 9.13% and a return on equity of 120.61%. The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.35 earnings per share. As a group, equities research analysts expect that Griffon will post 5.55 EPS for the current year.

Analyst Upgrades and Downgrades

GFF has been the subject of a number of research analyst reports. Stephens increased their target price on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Griffon in a report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target for the company. StockNews.com upgraded shares of Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday. Loop Capital upgraded shares of Griffon to a "strong-buy" rating in a report on Friday, February 14th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $100.00 price target (up previously from $95.00) on shares of Griffon in a report on Friday. Three equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Strong Buy" and an average target price of $98.20.

Griffon Company Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.