Griffon Co. (NYSE:GFF) declared a quarterly dividend on Thursday, July 30th, RTT News reports. Stockholders of record on Thursday, August 20th will be paid a dividend of 0.075 per share by the conglomerate on Thursday, September 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.31%.
Griffon has raised its dividend by an average of 39.3% annually over the last three years and has raised its dividend every year for the last 9 years. Griffon has a payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Griffon to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 27.3%.
Shares of GFF stock opened at $22.87 on Friday. The company’s fifty day simple moving average is $18.40 and its 200-day simple moving average is $17.32. Griffon has a 52 week low of $9.15 and a 52 week high of $27.53. The company has a current ratio of 2.59, a quick ratio of 1.40 and a debt-to-equity ratio of 2.55. The company has a market cap of $1.08 billion, a PE ratio of 20.24 and a beta of 2.21.
Several research firms recently issued reports on GFF. ValuEngine downgraded shares of Griffon from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research raised shares of Griffon from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $23.33.
Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.
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