Public Employees Retirement System of Ohio reduced its position in Greif, Inc. (NYSE:GEF) by 25.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,237 shares of the industrial products company’s stock after selling 8,870 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.05% of Greif worth $1,388,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEF. Itau Unibanco Holding S.A. acquired a new position in Greif during the 2nd quarter worth approximately $162,000. Point72 Asia Hong Kong Ltd lifted its position in Greif by 116.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,538 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 1,905 shares in the last quarter. Acadian Asset Management LLC lifted its position in Greif by 2,472.1% during the 2nd quarter. Acadian Asset Management LLC now owns 4,887 shares of the industrial products company’s stock worth $258,000 after acquiring an additional 4,697 shares in the last quarter. Stifel Financial Corp acquired a new position in Greif during the 1st quarter worth approximately $267,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Greif during the 1st quarter worth approximately $274,000. 47.21% of the stock is currently owned by institutional investors and hedge funds.
GEF has been the topic of several recent research reports. Zacks Investment Research lowered Greif from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Bank of America lowered Greif from a “neutral” rating to an “underperform” rating and set a $55.00 price target on the stock. in a research report on Monday, July 16th. Finally, KeyCorp reissued a “sell” rating and set a $50.00 price target on shares of Greif in a research report on Thursday, August 30th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $62.00.
Shares of GEF opened at $46.80 on Friday. Greif, Inc. has a 52-week low of $45.84 and a 52-week high of $65.60. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.72 and a beta of 1.27. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88.
Greif (NYSE:GEF) last announced its earnings results on Wednesday, August 29th. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. Greif had a return on equity of 18.10% and a net margin of 5.26%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $0.85 EPS. Greif’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts expect that Greif, Inc. will post 3.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 17th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from Greif’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, September 14th. Greif’s dividend payout ratio is presently 59.66%.
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates in four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.
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