What happened Shares of diversified conglomerate Griffon (NYSE: GFF) plunged 19% as of noon EST today. The company reported earnings for the fiscal fourth quarter and full year after the close yesterday. Griffon reported a quarterly revenue increase of 15% and raised its quarterly dividend by 6.7%. So why are investors abandoning the stock today? It may be because they didn't get a boost of confidence from management. So what The company operates under three business segments. Its consumer and professional products (CPP) segment consists of The AMES Companies. The maker of hand tools and products for home landscaping and care was founded in Massachusetts in 1774 and is one of the oldest continuously operating U.S. businesses. Image source: Getty Images. The segment grew revenue 32% over the prior-year quarter as home-improvement initiatives increased across the country during the COVID-19 pandemic. But that growth trounced what the company reported in its home and building products and defense electronics segments. It reported quarterly revenue in those areas was up just 6% and flat, respectively. Now what While the company is receiving what may be short-term tailwinds from pandemic-related trends, management did not boost investor confidence with share buybacks. The company has $58 million remaining under its previously approved share repurchase program but had not used any of it during the entire fiscal year, which ended Sept. 30. With shares already up more than 60% in the last six months, results weren't overwhelming enough for investors to stick around, especially if the home-improvement trends don't continue to boost the CPP businesses. 10 stocks we like better than GriffonWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Griffon wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source