Last $12.50 USD
Change Today +0.55 / 4.60%
Volume 141.8K
GFF On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 4:15 PM 12/17/14 All times are local (Market data is delayed by at least 15 minutes).

griffon corp (GFF) Snapshot

Open
$12.01
Previous Close
$11.95
Day High
$12.52
Day Low
$11.93
52 Week High
01/21/14 - $14.34
52 Week Low
08/1/14 - $10.43
Market Cap
658.2M
Average Volume 10 Days
129.4K
EPS TTM
$0.42
Shares Outstanding
52.7M
EX-Date
12/1/14
P/E TM
29.5x
Dividend
$0.16
Dividend Yield
1.05%
Current Stock Chart for GRIFFON CORP (GFF)

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griffon corp (GFF) Details

Griffon Corporation, through its wholly-owned subsidiaries, engages in home and building, telephonics, and plastics businesses. The company’s Home & Building Products segment manufactures and markets non-powered landscaping products, including long handle tools, wheelbarrows, snow tools, planters and lawn accessories, striking tools, hand tools, pruning products, and garden hose and storage products for homeowners and professionals. It also manufactures and markets residential, commercial, and industrial garage doors under the Clopay, America’s Favorite Garage Doors, Holmes Garage Door Company, and IDEAL Door brands to professional installing dealers and home center retail chains. This segment also sells garage door openers; and offers entry door systems. The company’s Telephonics Corporation segment designs, develops, manufactures, sells, and provides logistical support for aircraft intercommunication systems, radars, air traffic management, identification friend or foe equipment, and integrated homeland security systems, as well as custom, mixed-signal, and application-specific integrated circuits for use in military and commercial markets. It also offers advanced systems engineering services supporting air and missile defense programs; and other threat and situational analysis requirements. The company’s Clopay Plastic Products segment develops, produces, and sells thin gauge embossed and printed films, elastomeric films, laminates of film and non-woven fabrics, and perforated films and non-wovens for use in hygienic, health-care, and industrial applications. This segment serves multinational consumer and medical products companies. Griffon Corporation markets and sells its products through installing dealers, retailers, and wholesalers; technical business development personnel and sales representatives; and its direct sales force in the United States and internationally. The company was founded in 1959 and is headquartered in New York, New York.

6,100 Employees
Last Reported Date: 11/13/14
Founded in 1959

griffon corp (GFF) Top Compensated Officers

Vice Chairman of the Board, Chief Executive O...
Total Annual Compensation: $928.1K
President and Chief Operating Officer
Total Annual Compensation: $571.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $578.5K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $586.6K
Consultant
Total Annual Compensation: $111.3K
Compensation as of Fiscal Year 2013.

griffon corp (GFF) Key Developments

Griffon Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2014; Provides Earnings Guidance for the Full Year 2015

Griffon Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended September 30, 2014. For the quarter, net income was $7.95 million or $0.16 per diluted share compared to $3.45 million or $0.01 per diluted share a year ago. Revenue was $525.63 million, compared to $449.01 million a year ago. Income from continuing operations was $7.95 million or $0.16 per diluted share compared to $3.45 million or $0.06 per diluted share a year ago. Income before taxes was $7.40 million compared to income before taxes of $7.14 million a year ago. Income from operations was $19.70 million compared to income from operations of $19.05 million a year ago. Adjusted net income from continuing operations was $6.43 million or $0.13 per diluted share compared to adjusted net income from continuing operations of $5.75 million or $0.10 per diluted share a year ago. EBITDA was $51.30 million, compared to $46.24 million a year ago. For the nine months, net loss was $177,000 or $0.00 per diluted share compared to net income of $3.77 million or $0.07 per diluted share a year ago. Revenue was $1,991.81 million, compared to $1,871.33 million a year ago. Loss from continuing operations was $177,000 or $0.00 per diluted share compared to income from continuing operations of $6.79 million or $0.12 per diluted share a year ago. Loss before taxes was $5.72 million compared to income before taxes of $14.33 million a year ago. Income from operations was $78.16 million compared to income from operations of $63.85 million a year ago. Net cash provided by operating activities was $93.30 million compared to $85.68 million a year ago. Acquisition of property, plant and equipment was $77.09 million compared to $64.44 million a year ago. Adjusted net income from continuing operations was $25.88 million or $0.51 per diluted share compared to adjusted net income from continuing operations of $16.12 million or $0.29 per diluted share a year ago. EBITDA was $190.99 million, compared to $181.36 million a year ago. The company provided earnings guidance for the full year 2015. The company expects to drive improved profitability in 2015. In 2015, the company expects the tax rate to range between 36% and 38%, excluding any discrete period adjustments. Geographic earnings mix will impact the rate somewhat. Looking forward, the company estimates total capital spending in 2015 to approximate $80 million. In 2015, the company expects depreciation to be in the range of $60 million, and amortization of about $8 million.

Griffon Declares Quarterly Dividend, Payable on December 23, 2014

The Board of Directors of Griffon Corporation declared a regular quarterly cash dividend of $0.04 per share, a 33% increase over the prior quarter. The dividend is payable on December 23, 2014 to shareholders of record as of the close of business on December 3, 2014.

Griffon Seeks Acquisitions

Griffon Corporation (NYSE:GFF) is seeking acquisitions. Ron Kramer, Chief Executive Officer of Griffon, said, “We're committed to shareholder value creation and are confident that we can make investments for organic growth, pursue additional acquisitions and continue to return value to our shareholders via our dividend and share repurchase programs. We're very optimistic about our prospects.” Kramer added, “We like each of the businesses, each of the segments we're in and we're always looking to do tuck-in acquisitions around those businesses. Our growth plans have always been to look for opportunistic growth through acquisition.” Kramer further said, “And the growth prospects for this Company and the acquisitions prospects, we expect the business to grow organically and we're going always look for tuck-in acquisitions like what we've done over the past couple of years. There seem to be an unlimited number of smaller tuck-ins that we can do.”

 

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Industry Analysis

GFF

Industry Average

Valuation GFF Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.3x
Price/Book 1.1x
Price/Cash Flow 59.2x
TEV/Sales NM Not Meaningful
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