Diversify with Griffon Corporation, Over 7% YTM, Bonds Mature March 2022

This week’s bond review looks at a diversified conglomerate that has been reshaping its portfolio of companies to grow and increase synergies. Griffon Corporation has spent the past few years strengthening its business segments, particularly its Home and Building Products segment, acquiring leading brands like ClosetMaid and CornellCookson. Griffon had a fantastic third quarter. Some of the highlights include:

 

  • A 44% increase in revenues year-over-year.

  • Home and Building Products sales increased 59% over third quarter 2017.

  • Business orders for the company’s Telephonics business were up 30% year-over-year.

  • The Defense Electronics segment has accumulated Contract backlog of $346 million.