QRG Capital Management Inc. Takes Position in Greif, Inc. $GEF

QRG Capital Management Inc. acquired a new position in Greif, Inc. (NYSE:GEF) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,153 shares of the industrial products company’s stock, valued at approximately $480,000.

Several other large investors have also modified their holdings of GEF. American Century Companies Inc. raised its holdings in Greif by 1.3% in the 2nd quarter. American Century Companies Inc. now owns 21,494 shares of the industrial products company’s stock worth $1,397,000 after acquiring an additional 280 shares during the period. Norges Bank acquired a new stake in shares of Greif in the second quarter valued at about $1,040,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Greif in the second quarter valued at about $230,000. Jump Financial LLC bought a new position in shares of Greif in the second quarter worth about $609,000. Finally, Cerity Partners LLC increased its stake in shares of Greif by 50.3% in the second quarter. Cerity Partners LLC now owns 6,193 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 2,072 shares during the period. 45.74% of the stock is owned by institutional investors.

Greif Price Performance

Shares of GEF stock opened at $73.66 on Friday. Greif, Inc. has a 12 month low of $55.75 and a 12 month high of $77.14. The company has a market capitalization of $3.40 billion, a P/E ratio of 28.22, a P/E/G ratio of 0.74 and a beta of 0.76. The stock has a 50 day moving average of $67.84 and a two-hundred day moving average of $69.28. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 0.24.

Greif (NYSE:GEF) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. Greif had a net margin of 7.27% and a return on equity of 7.50%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. As a group, equities analysts expect that Greif, Inc. will post 3.87 EPS for the current year.

Greif Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.62 per share. This is an increase from Greif’s previous quarterly dividend of $0.56. This represents a $2.48 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, June 17th. Greif’s dividend payout ratio is presently 95.02%.

Insider Transactions at Greif

In other Greif news, SVP Timothy Bergwall sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $65.26, for a total value of $130,520.00. Following the sale, the senior vice president owned 65,832 shares of the company’s stock, valued at $4,296,196.32. The trade was a 2.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GEF has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on Greif from $76.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. Weiss Ratings raised Greif from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Zacks Research upgraded Greif from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Truist Financial reduced their price objective on Greif from $79.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, Greif has an average rating of “Hold” and an average target price of $73.50.

Greif Profile

Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif’s longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options.

The company’s core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging.