Denali Advisors LLC Acquires 500 Shares of Greif, Inc. $GEF

Denali Advisors LLC raised its holdings in Greif, Inc. (NYSE:GEF) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,667 shares of the industrial products company’s stock after buying an additional 500 shares during the quarter. Greif accounts for approximately 0.8% of Denali Advisors LLC’s holdings, making the stock its 25th biggest holding. Denali Advisors LLC owned approximately 0.24% of Greif worth $7,517,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Greif by 4.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,251,074 shares of the industrial products company’s stock worth $68,797,000 after purchasing an additional 55,948 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Greif by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 596,557 shares of the industrial products company’s stock worth $32,805,000 after purchasing an additional 27,832 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Greif by 54.2% in the 1st quarter. AQR Capital Management LLC now owns 366,449 shares of the industrial products company’s stock worth $20,015,000 after purchasing an additional 128,880 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Greif by 23.7% in the 1st quarter. Victory Capital Management Inc. now owns 212,888 shares of the industrial products company’s stock worth $11,707,000 after purchasing an additional 40,813 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Greif by 4.8% in the 1st quarter. Invesco Ltd. now owns 129,395 shares of the industrial products company’s stock worth $7,115,000 after purchasing an additional 5,902 shares during the last quarter. Institutional investors own 45.74% of the company’s stock.

Greif Stock Performance

Shares of NYSE:GEF opened at $60.46 on Wednesday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 2.34 and a beta of 1.00. The firm’s 50 day simple moving average is $61.99 and its 200 day simple moving average is $60.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.41 and a quick ratio of 1.18. Greif, Inc. has a fifty-two week low of $48.23 and a fifty-two week high of $73.16.

Greif (NYSE:GEF) last announced its quarterly earnings results on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $740.23 million. Greif had a net margin of 3.52% and a return on equity of 10.09%. Greif’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. As a group, sell-side analysts forecast that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.56 per share. This is an increase from Greif’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, September 16th. This represents a $2.24 annualized dividend and a yield of 3.7%. Greif’s dividend payout ratio is 71.11%.

Insider Buying and Selling

In other Greif news, SVP Timothy Bergwall sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $60.55, for a total transaction of $121,100.00. Following the sale, the senior vice president directly owned 66,678 shares in the company, valued at approximately $4,037,352.90. This trade represents a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GEF shares. Bank of America decreased their price objective on shares of Greif from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. Wells Fargo & Company decreased their price objective on shares of Greif from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. Zacks Research lowered shares of Greif from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Greif in a research note on Wednesday, October 8th. Finally, Truist Financial reduced their target price on shares of Greif from $72.00 to $71.00 and set a “hold” rating on the stock in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Greif has an average rating of “Hold” and an average target price of $74.00.

Greif 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.