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Griffon Corp - GFF STOCK NEWS

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.

Overview

Griffon Corp (GFF) is a diversified management and holding company that orchestrates the strategic operations of its wholly-owned subsidiaries. It operates in the home and building products sector, with a strong emphasis on manufacturing products that cater to residential, commercial, and industrial markets. At its core, Griffon prioritizes efficient resource allocation, capital structure management, and strategic acquisitions to ensure each subsidiary’s operational success and long-term value creation.

Business Segments and Core Operations

The company is primarily recognized for its pivotal role in the home and building products industry. Its operations span the manufacturing and marketing of high-quality garage doors and rolling steel doors, designed for both professional installers and retail chains. Additionally, Griffon offers non-powered landscaping products tailored for homeowners and professionals, further diversifying its product offerings across multiple market segments. Its Consumer and Professional Products segment also delivers a range of branded consumer tools, residential, industrial, and commercial fans, as well as home storage and organization products.

Operational Strategy and Management Structure

Griffon Corp employs a robust operational model wherein it provides strategic direction and supports growth opportunities across its subsidiaries. The company not only manages the day-to-day resource distribution but also actively seeks attractive acquisition opportunities in sectors that complement its existing business model. By leveraging its expertise in capital allocation and strategic planning, Griffon enhances the competitive positioning of its subsidiaries without directly engaging in day-to-day manufacturing or marketing activities.

Market Position and Competitive Landscape

Within the competitive environment of the home and building products industry, Griffon Corp maintains a distinctive position through its diversified portfolio approach. The company operates in various regions including North America, Europe, and Australia, engaging multiple market segments. Its strategic emphasis on manufacturing quality products such as garage doors and rolling steel doors allows it to effectively compete with specialized industry players, while its comprehensive management of diverse subsidiaries provides resilience amid market fluctuations.

Subsidiaries and Diversification

Griffon Corp oversees several well-established subsidiaries that contribute to its diversified business model. Notably, entities such as Clopay Corporation are integral to the production and marketing of key products in the home and building products segment. These subsidiaries benefit from Griffon's strategic guidance in planning acquisitions, divestitures, and operational optimizations. The company's continuous evaluation of new business opportunities further underscores its commitment to maintaining a diverse and balanced operational framework, which is critical in sustaining long-term business stability across varying economic conditions.

Strategic Insights and Industry Expertise

The company exhibits a high level of expertise in capital management and operational oversight. By aligning its subsidiaries with market demands and technological advances, Griffon Corp demonstrates a clear understanding of the interconnections between economic cycles and the product lifecycle in manufacturing. Its multi-faceted approach caters to both mass-market consumers and professional segments, ensuring a broad-based impact in the home and building products space. This strategic outlook benefits stakeholders by ensuring a balanced risk profile across multiple industries and geographies.

Operational Excellence and Future Resilience

While Griffon Corp does not forecast future performance, its current operational framework—with rigorous internal controls and strategic business planning—provides a solid foundation for enduring market relevance. The company's diversified approach allows for flexibility in addressing industry challenges and adapting to market trends over time. This comprehensive management model reinforces its long-standing expertise in guiding varied business segments toward sustainable operational excellence.

Through its intricate network of subsidiaries and a focused strategy on operational efficiency, Griffon Corp remains a key entity within the home and building products sector. Its balanced approach to growth, supported by strategic acquisitions and effective resource management, reinforces its stature as a pivotal player in the landscape of diversified management companies.

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Griffon (NYSE: GFF) has announced its plans to release fiscal third quarter 2024 results on August 7, 2024, followed by a conference call at 8:30 AM ET. Investors can access the call by dialing 1-877-407-0792 (U.S.) or 1-201-689-8263 (International) with conference ID 13747578. A replay will be available until August 21, 2024.

Griffon is a diversified management and holding company operating through two segments: Home and Building Products (Clopay ) and Consumer and Professional Products (CPP). Clopay is North America's largest manufacturer of garage doors and rolling steel doors, while CPP provides branded consumer and professional tools, fans, and home storage products globally.

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Griffon (NYSE: GFF) announced that its subsidiary, The AMES Companies, acquired Pope from The Toro Company. Pope is an Australian provider of residential watering products. This marks AMES's seventh acquisition in Australia since 2013 and expands its product portfolio in the Australian market. Pope is expected to add approximately $25 million in annual revenue and positively impact Griffon's earnings in the first full year. Financial details of the acquisition were not disclosed.

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The Toro Company (NYSE: TTC) has announced the sale of its Australia-based residential Pope Products business to The AMES Company, a subsidiary of Griffon (NYSE: GFF). The sold assets, focused on garden watering and irrigation, were exclusively marketed in Australia and New Zealand. This divestiture aligns with Toro's strategy to concentrate on high-growth sectors such as golf, sports fields, and professional contractor markets. Financially, the sale's impact on Toro's fiscal 2024 results is negligible and was already factored into their previous forecasts.

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Griffon (NYSE: GFF) has successfully repriced its $459 million Secured Term Loan B, which matures in January 2029. The repricing reduces the spread above the Secured Overnight Financing Rate (SOFR) by 25 basis points and removes the Credit Spread Adjustment (CSA), resulting in an estimated annual savings of $1.8 million in cash interest expenses. The applicable SOFR floor has also been reduced from 50 to 0 basis points. This adjustment reflects Griffon’s strong balance sheet and operational results and aims to lower debt costs. Bank of America acted as the administrative agent for this repricing.

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The AMES Companies celebrates its 250th anniversary, marking a significant milestone as a historic U.S. company. Founded in 1774, AMES started by creating America's first metal shovels and has grown into a leading provider of hand-powered landscaping tools. Today, AMES manages over 22 brands worldwide in the cleaning, home organization, lawn and garden, and outdoor living sectors. Headquartered in Orlando, AMES is a wholly-owned subsidiary of Griffon (NYSE:GFF). Notable historical contributions include supplying shovels during the Revolutionary War, the California Gold Rush, the construction of the Union Pacific Railroad, the Panama Canal, and the Empire State Building, among others. President Bill Glusing praises the dedication of AMES team members and their commitment to quality and innovation. Griffon supports AMES through strategic oversight and resource allocation, further enhancing its growth and diversification.

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Griffon reported its fiscal 2024 second-quarter results, showing a 5% decrease in revenue to $672.9 million. However, net income improved to $64.1 million, or $1.28 per share, compared to a loss in the prior year quarter. Adjusted net income was $67.5 million, or $1.35 per share. The company raised full-year segment EBITDA guidance to $555 million, repurchased shares, and announced a global sourcing strategy expansion for CPP.

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Griffon (NYSE: GFF) declared a regular quarterly cash dividend of $0.15 per share, payable on June 20, 2024. Griffon is a diversified holding company overseeing subsidiaries specializing in home and building products and consumer and professional tools.

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Griffon is set to announce its fiscal second-quarter results on May 8, 2024, with a subsequent conference call. Griffon is a diversified management and holding company overseeing its subsidiaries in the Home and Building Products and Consumer and Professional Products segments.

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Griffon Corporation announces repurchase of 1.5 million shares of common stock from Voss Capital at a 3.7% discount, with Travis Cocke resigning from the Board. The transaction is part of Griffon's strategic plan to create shareholder value through stock repurchases and dividends.
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Griffon Corporation reported fiscal 2024 first quarter results, with $643.2 million in revenue, a 1% decrease from the prior year. Net income was $42.2 million, or $0.82 per share, compared to $48.7 million, or $0.88 per share, in the prior year. Adjusted EBITDA increased 7% to $116.4 million. HBP revenue remained consistent at $395.8 million, while CPP revenue decreased 2% to $247.4 million. Griffon announced the expansion of CPP's global sourcing strategy to include long handle tools, material handling, and wood storage product lines. The company reported pretax income of $29.9% and effective tax rates of 27.9%. Share repurchases totaled 1.6 million shares for $69.6 million during the quarter, with $237.5 million remaining under the Board authorized share repurchase programs.
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FAQ

What is the current stock price of Griffon (GFF)?

The current stock price of Griffon (GFF) is $68.28 as of April 4, 2025.

What is the market cap of Griffon (GFF)?

The market cap of Griffon (GFF) is approximately 3.2B.

What is the core business model of Griffon Corp?

Griffon Corp operates as a diversified holding company managing a portfolio of subsidiaries in the home and building products sector. Its strategy focuses on efficient resource allocation, capital structure management, and strategic acquisitions.

How does Griffon Corp generate revenue?

The company generates revenue primarily through its home and building products segment, which includes the manufacturing and marketing of garage doors and related products, alongside other consumer and professional products.

What products does Griffon Corp manufacture?

Griffon Corp specializes in the production of residential, commercial, and industrial garage doors, rolling steel doors, and non-powered landscaping products, catering to both professional installers and retail markets.

In which markets does Griffon Corp operate?

Griffon Corp has a diverse geographic presence, operating in key markets across North America, Europe, Australia, and other regions. This broad market engagement supports its diversified business model.

How does Griffon Corp utilize its subsidiaries?

The company oversees and strategically manages its subsidiaries by providing operational direction, identifying growth opportunities, and facilitating acquisitions. This approach ensures each subsidiary is aligned with the overall corporate strategy.

What differentiates Griffon Corp from other industry players?

Griffon Corp stands out due to its diversified operational model and focus on maintaining a balanced portfolio of both established and opportunistic business segments. Its rigorous approach to capital allocation and strategic guidance bolsters its competitive positioning.

How does Griffon Corp support its subsidiaries’ growth?

Griffon Corp provides a structured framework for resource allocation, operational oversight, and strategic guidance, enabling its subsidiaries to capitalize on market opportunities while maintaining robust risk management practices.
Griffon Corp

NYSE:GFF

GFF Rankings

GFF Stock Data

3.16B
38.32M
19.05%
80.73%
3.98%
Conglomerates
Metal Doors, Sash, Frames, Moldings & Trim
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United States
NEW YORK