Griffon (GFF) Declares $0.12 Dividend

Griffon said on May 3, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.50 annualized). Previously, the company paid $2.00 per share.

Shares must be purchased before the ex-div date of May 24, 2023 to qualify for the dividend. Shareholders of record as of May 25, 2023 will receive the payment on June 15, 2023.

At the current share price of $32.10 / share, the stock's dividend yield is 1.56%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.53%, the lowest has been 0.91%, and the highest has been 8.37%. The standard deviation of yields is 0.58 (n=237).

The current dividend yield is 0.05 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -0.47. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 7.00%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 526 funds or institutions reporting positions in Griffon. This is an increase of 36 owner(s) or 7.35% in the last quarter. Average portfolio weight of all funds dedicated to GFF is 0.25%, an increase of 7.28%. Total shares owned by institutions decreased in the last three months by 2.44% to 50,770K shares. The put/call ratio of GFF is 0.24, indicating a bullish outlook.

Analyst Price Forecast Suggests 60.79% Upside

As of April 24, 2023, the average one-year price target for Griffon is 51.61. The forecasts range from a low of 48.48 to a high of $56.70. The average price target represents an increase of 60.79% from its latest reported closing price of 32.10.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Griffon is 2,950MM, an increase of 3.97%. The projected annual non-GAAP EPS is 3.67.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 3,510K shares representing 6.14% ownership of the company. In it's prior filing, the firm reported owning 3,467K shares, representing an increase of 1.21%. The firm increased its portfolio allocation in GFF by 11.65% over the last quarter.

Voss Capital holds 2,892K shares representing 5.06% ownership of the company. In it's prior filing, the firm reported owning 2,526K shares, representing an increase of 12.64%. The firm decreased its portfolio allocation in GFF by 5.47% over the last quarter.

Gamco Investors, Inc. Et Al holds 2,715K shares representing 4.75% ownership of the company. In it's prior filing, the firm reported owning 2,970K shares, representing a decrease of 9.39%. The firm increased its portfolio allocation in GFF by 1.24% over the last quarter.

Allspring Global Investments Holdings holds 1,776K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 1,815K shares, representing a decrease of 2.18%. The firm decreased its portfolio allocation in GFF by 15.06% over the last quarter.

EQ ADVISORS TRUST - 1290 VT GAMCO Small Company Value Portfolio Class IA holds 1,630K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 1,676K shares, representing a decrease of 2.82%. The firm increased its portfolio allocation in GFF by 5.63% over the last quarter.

Griffon Background Information
(This description is provided by the company.)

Griffon Corporation is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.

This story originally appeared on Fintel.