Griffon stated on May 3, 2023 that its Board of Directors declared regular quarterly dividend $0.12 per share ($0.50 annualized). Previously, the company paid $2.00 per share.
The shares must have been purchased before the ex-split 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 one sample each week, the average dividend yield has been 1.53%, with a low of 0.91%, and a high of 8.37%. The standard deviation of the yield is 0.58 (n=237).
The current dividend yield is 0.05 standard deviations from the historical average.
Additionally, the company has a dividend payout ratio of -0.47. The payout ratio tells us how much of a company’s earnings is paid out in dividends. A payout ratio of one (1.0) means that 100% of the company’s earnings are paid out in dividends. A payout ratio greater than one means the company is dipping into savings to maintain its dividend — not a healthy situation. Companies with some growth potential are expected to pay out most of their earnings in dividends, which typically have a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some of the earnings to invest in those growth prospects, which translates into a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 7.00%, indicating that it has grown its dividend over time.
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What is Fund Sentiment?
there are Reporting of 526 fund or institution positions In Griffon. This is an increase of 36 owners or 7.35% over the previous quarter. average portfolio weight of all funds 0.25% dedicated to GFF, an increase of 7.28%. The total shares owned by institutions decreased by 2.44% to 50,770K shares in last three months. put/call ratio The GFF has a ratio of 0.24, indicating a bullish outlook.
Analyst Price Forecast Indicates 60.79% Upside
By April 24, 2023, average one year price target For the Griffon is 51.61. Forecasts range from a low of $48.48 to a high of $56.70. The average price target shows an upside of 60.79% from the latest closing price of 32.10.
see our Leaderboard of companies With the biggest price target on the upside.
The estimated annual revenue for the Griffon is ₹2,950MM, a growth of 3.97%. Estimated Annual Non-GAAP eps is 3.67.
What are the other shareholders doing?
IJR – iShares Core S&P Small-Cap ETF The company holds 3,510K shares representing 6.14% ownership. In its prior filing, the firm reported representing 3,467K shares. a hike of 1.21%. Firm increased Its portfolio allocation in GFF has increased by 11.65% as compared to the previous quarter.
Voss Capital The company holds 2,892K shares representing 5.06% ownership. In its prior filing, the firm reported representing 2,526K shares. a hike 12.64%. Firm fell short of Its portfolio allocation in GFF has increased by 5.47% as compared to the previous quarter.
Gamco Investors, Inc. and others The company holds 2,715K shares representing 4.75% ownership. In its prior filing, the firm reported representing 2,970K shares. fall short of 9.39%. Firm increased Its portfolio allocation in GFF has increased by 1.24% as compared to the previous quarter.
Allspring Global Investment Holdings The company holds 1,776K shares representing 3.11% ownership. In its prior filing, the firm reported representing 1,815K shares. fall short of 2.18%. Firm fell short of Its portfolio allocation in GFF has increased by 15.06% as compared to the previous quarter.
EQ Advisory Trust – 1290 VT GAMCO Small Company Value Portfolio Class IA The company holds 1,630K shares representing 2.85% ownership. In its prior filing, the firm reported representing 1,676K shares. fall short of 2.82%. Firm increased Its portfolio allocation in GFF has increased by 5.63% as compared to the previous quarter.
Griffon Background Information
(This description is provided by the company.)
Gryphon Corporation is a diversified management and holding company that operates businesses 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 with respect to acquisitions and growth opportunities as well as divestitures. To further diversify, Griffon also seeks, evaluates and, when appropriate, will acquire additional businesses that provide potentially attractive returns on capital.
This story originally appeared on Fintail,
The views and opinions expressed here are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.