Griffon Co. (NYSE:GFF) Plans $0.18 Quarterly Dividend

Griffon Co. (NYSE:GFF) declared a quarterly dividend on Thursday, May 8th, RTT News reports. Stockholders 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 dividend yield of 1.02%.

Griffon has raised its dividend payment by an average of 24.1% per year over the last three years. Griffon has a payout ratio of 11.2% meaning 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

Shares of GFF stock opened at $70.87 on Friday. The firm has a market cap of $3.41 billion, a PE ratio of 14.46 and a beta of 1.17. Griffon has a 12 month low of $55.01 and a 12 month high of $86.73. The company’s fifty day simple moving average is $69.65 and its 200-day simple moving average is $72.89. The company has a quick ratio of 1.34, a current ratio of 2.51 and a debt-to-equity ratio of 6.44.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. Griffon had a return on equity of 120.61% and a net margin of 9.13%. The firm had revenue of $611.75 million during the quarter, compared to the consensus estimate of $618.23 million. During the same period last year, the company earned $1.35 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. Equities research analysts expect that Griffon will post 5.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GFF shares. Raymond James restated a “strong-buy” rating and issued a $95.00 price target (up previously from $92.00) on shares of Griffon in a research report on Thursday, February 6th. Stephens upped their price target on shares of Griffon from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Griffon in a report on Tuesday, April 1st. They issued a “buy” rating and a $91.00 target price on the stock. StockNews.com cut Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Loop Capital raised shares of Griffon to a “strong-buy” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $97.20.

About Griffon

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.