Diversified Trust Co acquired a new position in shares of Greif, Inc. (NYSE:GEF – Get Rating) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,350 shares of the industrial products company's stock, valued at approximately $521,000.
Several other hedge funds have also recently bought and sold shares of GEF. Teacher Retirement System of Texas increased its position in Greif by 19.6% during the fourth quarter. Teacher Retirement System of Texas now owns 4,862 shares of the industrial products company's stock worth $294,000 after buying an additional 798 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Greif by 9.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,700 shares of the industrial products company's stock valued at $706,000 after purchasing an additional 964 shares during the last quarter. Invesco Ltd. grew its position in shares of Greif by 3.5% in the fourth quarter. Invesco Ltd. now owns 196,967 shares of the industrial products company's stock valued at $11,891,000 after purchasing an additional 6,726 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Greif in the fourth quarter valued at about $370,000. Finally, Fifth Lane Capital LP acquired a new stake in shares of Greif in the fourth quarter valued at about $101,000. 47.04% of the stock is owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In other Greif news, Director Vicki L. Avril-Groves sold 2,400 shares of Greif stock in a transaction on Monday, September 12th. The shares were sold at an average price of $69.16, for a total transaction of $165,984.00. Following the completion of the sale, the director now owns 40,246 shares of the company's stock, valued at approximately $2,783,413.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Nicholas Joseph Petitti sold 3,215 shares of the business's stock in a transaction on Friday, August 12th. The shares were sold at an average price of $70.90, for a total value of $227,943.50. Following the completion of the transaction, the insider now owns 2,307,482 shares of the company's stock, valued at approximately $163,600,473.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vicki L. Avril-Groves sold 2,400 shares of the business's stock in a transaction on Monday, September 12th. The shares were sold at an average price of $69.16, for a total transaction of $165,984.00. Following the completion of the transaction, the director now directly owns 40,246 shares of the company's stock, valued at approximately $2,783,413.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,481 shares of company stock valued at $3,820,097. Company insiders own 2.59% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on GEF. StockNews.com raised Greif from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 5th. Stifel Nicolaus started coverage on shares of Greif in a research note on Friday, September 2nd. They set a "buy" rating and a $90.00 price target for the company. BMO Capital Markets upgraded shares of Greif from an "underperform" rating to a "market perform" rating and raised their price target for the stock from $52.00 to $70.00 in a research note on Monday, September 5th. Finally, Wells Fargo & Company cut shares of Greif from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $79.00 to $71.00 in a research note on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.20.
Greif Stock Performance
Shares of Greif stock opened at $63.82 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.48 and a quick ratio of 1.05. The firm has a market cap of $3.04 billion, a P/E ratio of 10.02, a P/E/G ratio of 0.84 and a beta of 0.93. The firm has a 50 day simple moving average of $68.38 and a 200 day simple moving average of $63.70. Greif, Inc. has a fifty-two week low of $53.65 and a fifty-two week high of $72.79.
Greif (NYSE:GEF – Get Rating) last released its earnings results on Wednesday, August 31st. The industrial products company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.35. Greif had a net margin of 5.93% and a return on equity of 29.00%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business earned $1.93 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Greif, Inc. will post 8.01 earnings per share for the current fiscal year.
Greif Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, September 15th. This is a positive change from Greif's previous quarterly dividend of $0.46. Greif's payout ratio is currently 31.40%.
Greif Profile
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Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. 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.
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