Griffon Corporation (GFF) to Issue Quarterly Dividend of $0.22 on June 17th

Griffon Corporation (NYSE:GFF) declared a quarterly dividend on Wednesday, May 6th. Shareholders of record on Friday, May 29th will be paid a dividend of 0.22 per share by the conglomerate on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 29th.

Griffon has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Griffon has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of NYSE GFF opened at $86.44 on Wednesday. The stock has a fifty day moving average price of $81.19 and a two-hundred day moving average price of $79.91. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. The firm has a market cap of $3.96 billion, a P/E ratio of 664.97, a PEG ratio of 1.42 and a beta of 1.46. Griffon has a 1 year low of $65.01 and a 1 year high of $97.58.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $421.86 million during the quarter, compared to analyst estimates of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The firm’s quarterly revenue was down 31.0% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. Research analysts forecast that Griffon will post 5.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Griffon

Several large investors have recently modified their holdings of GFF. Royal Bank of Canada lifted its holdings in shares of Griffon by 20.2% in the first quarter. Royal Bank of Canada now owns 94,955 shares of the conglomerate’s stock valued at $6,790,000 after purchasing an additional 15,925 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Griffon by 9.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate’s stock valued at $1,676,000 after purchasing an additional 2,047 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Griffon in the first quarter valued at $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Griffon by 21.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,035 shares of the conglomerate’s stock valued at $6,080,000 after purchasing an additional 14,764 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Griffon in the first quarter valued at $57,000. 73.22% of the stock is owned by institutional investors.

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.