Greif, Inc. (NYSE:GEF) Shareholders to Get $0.62 Quarterly Dividend

Greif, Inc. (NYSE:GEF) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Thursday, December 17th will be paid a dividend of $0.62 per share by the industrial products company on Friday, January 1st. This represents a $2.48 annualized dividend and a yield of 3.0%. The ex-dividend date is Thursday, December 17th.

Greif has a payout ratio of 45.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Greif to earn $4.80 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 51.7%.

Greif Trading Down 1.6%

NYSE GEF opened at $81.47 on Wednesday. The business’s 50-day moving average price is $82.44 and its two-hundred day moving average price is $74.64. Greif has a 12 month low of $55.90 and a 12 month high of $90.57. The firm has a market capitalization of $3.76 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 0.63 and a beta of 0.79. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

Greif (NYSE:GEF) last issued its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.29). Greif had a net margin of 7.53% and a return on equity of 8.09%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company posted $0.58 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts expect that Greif will post 4.32 EPS for the current year.

Insider Activity at Greif

In other Greif news, EVP Bala Sathyanarayanan sold 1,000 shares of Greif stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $109.67, for a total value of $109,670.00. Following the completion of the sale, the executive vice president directly owned 7,549 shares in the company, valued at approximately $827,898.83. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy Bergwall sold 2,000 shares of Greif stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $81.82, for a total value of $163,640.00. Following the completion of the sale, the senior vice president owned 51,832 shares of the company’s stock, valued at approximately $4,240,894.24. The trade was a 3.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,900 shares of company stock worth $4,414,117 in the last 90 days. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of Greif

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Greif by 35.0% in the 2nd quarter. Wellington Management Group LLP now owns 246,492 shares of the industrial products company’s stock valued at $18,361,000 after acquiring an additional 63,843 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Greif by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 90,939 shares of the industrial products company’s stock valued at $6,099,000 after acquiring an additional 5,071 shares during the period. Squarepoint Ops LLC boosted its stake in Greif by 29.1% during the second quarter. Squarepoint Ops LLC now owns 36,906 shares of the industrial products company’s stock worth $2,749,000 after acquiring an additional 8,322 shares in the last quarter. Engineers Gate Manager LP boosted its stake in Greif by 362.2% during the second quarter. Engineers Gate Manager LP now owns 31,706 shares of the industrial products company’s stock worth $2,362,000 after acquiring an additional 24,846 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in Greif by 10.8% during the second quarter. Wedge Capital Management L L P NC now owns 27,528 shares of the industrial products company’s stock worth $2,051,000 after acquiring an additional 2,694 shares in the last quarter. Institutional investors and hedge funds own 45.74% of the company’s stock.

About Greif

Greif, Inc is a global producer of industrial and paper packaging products and related services. The company manufactures and supplies fiber, steel and plastic drums; intermediate bulk containers; containerboard; corrugated sheets and products; and other packaging solutions for customers in a range of industries.

Greif also provides packaging lifecycle services, including container reconditioning, recycling, logistics and related customer support. Its products are used to package and transport food and beverage ingredients, chemicals, petroleum products, agricultural materials, pharmaceuticals and other industrial goods.

Founded in 1877 as a cooperage business, Greif has expanded into a multinational packaging company serving customers across North America, Europe and other international markets.