Greif, Inc. (NYSE:GEF) Holdings Cut by Private Management Group Inc.

Private Management Group Inc. lowered its holdings in Greif, Inc. (NYSE:GEF) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,189 shares of the industrial products company’s stock after selling 1,087 shares during the period. Private Management Group Inc. owned about 0.42% of Greif worth $12,544,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Greif by 71.9% during the second quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after buying an additional 228 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Greif during the second quarter valued at approximately $64,000. DekaBank Deutsche Girozentrale increased its stake in shares of Greif by 80.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 561 shares during the period. nVerses Capital LLC acquired a new position in shares of Greif during the second quarter valued at approximately $80,000. Finally, Quest Partners LLC increased its stake in shares of Greif by 27,766.7% during the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 1,666 shares during the period. Institutional investors own 45.74% of the company’s stock.

Greif Stock Up 0.7 %

Shares of NYSE:GEF traded up $0.46 during trading on Friday, reaching $62.90. 137,030 shares of the company traded hands, compared to its average volume of 165,165. The firm has a fifty day simple moving average of $62.30 and a 200 day simple moving average of $62.04. The firm has a market cap of $2.97 billion, a P/E ratio of 13.67 and a beta of 0.91. Greif, Inc. has a 1-year low of $55.95 and a 1-year high of $71.36. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, August 28th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.14). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. Greif had a net margin of 4.99% and a return on equity of 13.28%. Analysts anticipate that Greif, Inc. will post 4.2 earnings per share for the current fiscal year.

Greif Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.43%. This is a positive change from Greif’s previous quarterly dividend of $0.52. Greif’s dividend payout ratio (DPR) is 46.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Truist Financial reiterated a “hold” rating and set a $67.00 price objective (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $88.00 price objective on shares of Greif in a research report on Monday, August 26th. StockNews.com cut shares of Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Wells Fargo & Company lowered their price objective on shares of Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Raymond James assumed coverage on shares of Greif in a research report on Friday, July 19th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Greif Company Profile

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.