
Griffon is a niche North American building products firm focused on garage doors and ceiling fans after a recent strategic refocus. I rate GFF a 'sell' due to overvaluation, cyclical end-market weakness, declining earnings expectations, and a low credit rating despite strong dividend growth. GFF's dividend safety is acceptable with a 14-year growth streak and low payout ratio, but leverage, declining FCF, and non-investment grade credit remain concerns.










