Algert Global LLC Increases Stake in Greif Inc. (GEF)
Algert Global LLC boosted its stake in shares of Greif Inc. (NYSE:GEF) by 48.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,452 shares of the company’s stock after buying an additional 9,015 shares during the period. Algert Global LLC’s holdings in Greif were worth $1,361,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Greif by 37.2% in the first quarter. Wellington Management Group LLP now owns 1,875,646 shares of the company’s stock valued at $61,427,000 after buying an additional 508,987 shares in the last quarter. Prudential Financial Inc. raised its position in Greif by 12.4% in the second quarter. Prudential Financial Inc. now owns 862,990 shares of the company’s stock worth $32,164,000 after buying an additional 95,290 shares during the period. Emerald Acquisition Ltd. purchased a new position in Greif during the second quarter worth about $13,292,000. Teachers Advisors Inc. raised its position in Greif by 494.5% in the first quarter. Teachers Advisors Inc. now owns 279,213 shares of the company’s stock worth $9,144,000 after buying an additional 232,248 shares during the period. Finally, LSV Asset Management raised its position in Greif by 1,845.1% in the second quarter. LSV Asset Management now owns 250,915 shares of the company’s stock worth $9,351,000 after buying an additional 238,015 shares during the period. 48.80% of the stock is currently owned by institutional investors.
Greif Inc. (NYSE:GEF) opened at 46.63 on Friday. The firm has a market cap of $2.23 billion, a P/E ratio of 28.29 and a beta of 1.28. Greif Inc. has a 1-year low of $23.88 and a 1-year high of $49.99. The stock’s 50 day moving average is $47.16 and its 200-day moving average is $39.63.
Greif (NYSE:GEF) last released its earnings results on Wednesday, August 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. The firm had revenue of $845 million for the quarter, compared to analyst estimates of $910.83 million. Greif had a return on equity of 14.86% and a net margin of 2.37%. Greif’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Analysts forecast that Greif Inc. will post $2.46 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Monday, September 19th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Thursday, September 15th. Greif’s payout ratio is currently 126.32%.
A number of research analysts have issued reports on the stock. DA Davidson lowered shares of Greif from a “buy” rating to a “neutral” rating and upped their target price for the company from $44.00 to $45.00 in a report on Friday, September 2nd. They noted that the move was a valuation call. Deutsche Bank AG restated a “market perform” rating and issued a $36.00 target price on shares of Greif in a report on Wednesday, June 29th. Bank of America Corp. upgraded shares of Greif from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Tuesday, September 6th. BMO Capital Markets restated a “hold” rating and issued a $36.00 target price on shares of Greif in a report on Monday, June 27th. Finally, Zacks Investment Research lowered shares of Greif from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $42.50.
Greif, Inc is a producer of industrial packaging products and services. The Company’s products include steel, fiber and plastic drums, rigid intermediate bulk containers, closure systems, transit protection products, water bottles and reconditioned industrial containers, and offers services, such as container life cycle management, blending, filling, logistics, warehousing and other packaging services.
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