Welcome to our dedicated page for Griffon news (Ticker: GFF), a resource for investors and traders seeking the latest updates and insights on Griffon stock.
Griffon Corporation (NYSE: GFF) provides investors and industry stakeholders with comprehensive updates on strategic developments across its home and building products subsidiaries. This centralized resource aggregates official press releases, financial disclosures, and operational announcements from Griffon's diversified portfolio.
Access real-time updates on manufacturing innovations, acquisition strategies, and management initiatives driving this holding company's growth. The curated feed includes earnings communications, product launch details from subsidiaries like Clopay Corporation, and capital allocation decisions affecting long-term value creation.
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Bookmark this page for efficient monitoring of Griffon's performance across North American, European, and Australian markets. Regular visits provide critical insights into how the company balances subsidiary autonomy with centralized strategic oversight in competitive manufacturing sectors.
Griffon Corporation (NYSE: GFF) highlights the immediate and long-term value of its proposed acquisition of Hunter Fan Company. The transaction is expected to be accretive to earnings by at least $0.50 per share in the first full fiscal year, with Hunter's strong market presence and EBITDA margins over 20% enhancing Griffon's financial profile. Despite some opposition from Voss Capital, the acquisition has garnered positive support from analysts and investors, indicating solid strategic merits and growth prospects. The vote for the WHITE proxy card is urged for the upcoming Annual Meeting on February 17, 2022.
Griffon Corporation (NYSE: GFF) has filed its preliminary proxy statement with the SEC ahead of its Annual Shareholder Meeting on February 17, 2022. The proxy includes six items for consideration, notably the nomination of four new directors aiming for enhanced corporate governance reflecting diversity and industry expertise. Michelle Taylor, nominated for her proficiency in manufacturing, will join a board where 29% will be women and persons of color post-election. Current director William Waldorf will retire. The company plans to implement a declassification of the board and reduce voting power required to call special meetings.
On Dec. 20, 2021, Voss Capital, a significant shareholder of Griffon Corp (GFF), publicly opposed the company's planned acquisition of Hunter Fan Company for $845 million. Voss criticized the deal for its unattractive valuation, claiming Griffon is paying 9.4x FY 2023 EBITDA, higher than its current trading multiple of under 8x. Concerns also included the execution risk due to Griffon's poor management history and a lack of shareholder voting on the deal, suggesting a potential conflict of interest involving the Board. Voss aims to push for board changes in February.
Griffon Corporation (NYSE:GFF) announced its acquisition of Hunter Fan Company for
Griffon Corporation (NYSE: GFF) has confirmed the receipt of a director nomination notice from Voss Capital, a 2% shareholder. This comes ahead of the 2022 Annual Meeting on February 17, 2022. Griffon reported solid financial growth with a revenue CAGR of 11%, adjusted EBITDA of 23%, and adjusted EPS of 35% over three years. The company achieved a total shareholder return of approximately 130%, outperforming the S&P 500. The Board has undergone significant refreshment, adding six new directors in five years, aiming for enhanced diversity and governance practices.
Griffon Corporation (NYSE:GFF) reported fiscal 2021 results showing a 10% revenue increase to $2.3 billion. Net income rose to $79.2 million ($1.48/share), while adjusted net income climbed 36% to $99.2 million ($1.86/share). The company is exploring strategic alternatives for its Defense Electronics segment, classifying it as a discontinued operation. Despite a 3% revenue increase in Q4, net income decreased to $15.9 million due to operational challenges. Griffon's adjusted EBITDA for the year reached $248 million, up 18%, reflecting solid demand in its Consumer and Professional Products segment.
The Board of Directors of Griffon Corporation (NYSE: GFF) has declared a quarterly cash dividend of $0.09 per share, payable on December 16, 2021, to shareholders on record as of November 29, 2021. This reflects the company's commitment to providing returns to its shareholders. Griffon operates through three segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics, focusing on diverse markets including tools, garage doors, and defense solutions.
Griffon Corporation (NYSE:GFF) will release its fiscal fourth quarter and full-year results on November 16, 2021, followed by a conference call at 9:00 AM ET. U.S. participants can dial 1-877-407-0792, while international callers can reach 1-201-689-8263. Replays will be available starting the same day at 12:00 PM ET until November 30, 2021. Griffon is a diversified holding company operating through subsidiaries across three segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics.
Griffon Corporation (NYSE:GFF) has initiated a review of strategic alternatives for its subsidiary, Telephonics Corporation, a leader in defense electronics. The aim is to enhance shareholder value and foster growth opportunities for Telephonics, known for its advanced intelligence and communications solutions. Chairman and CEO Ronald J. Kramer emphasized the company’s commitment to maximizing long-term returns. Lazard and Dechert LLP have been appointed as financial and legal advisors, respectively, for this evaluation.
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