Victory Capital Management Inc. bought a new position in shares of Greif, Inc. (NYSE:GEF – Get Rating) during Q1, Holdings Channel reports. The fund bought 323,268 shares of the industrial products company, valued at around $19,616,000.
Several other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its position in Greif by 0.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,377,782 shares of the industrial products company worth $83,177,000 after buying 4,591 additional shares last quarter. Invesco Ltd. increased its holdings of Greif shares by 3.5% in Q4. Invesco Ltd. now owns 196,967 shares of the industrial products company valued at $11,891,000 after purchasing an additional 6,726 shares during the period. Nordea Investment Management AB increased its holding in shares of Greif by 2.2% in the 1st quarter. Nordea Investment Management AB now owns 133,832 shares of the industrial products company valued at $8,694,000 after purchasing an additional 2,857 shares during the period. Evergreen Capital Management LLC increased its equity stake in Greif by 8.4% in Q4. Evergreen Capital Management LLC now owns 101,377 shares of the industrial products company valued at $6,120,000 after purchasing an additional 7,858 shares during the period. Finally, Denali Advisors LLC increased its stake in Greif shares by 7.7% in the 1st quarter. Denali Advisors LLC now owns 74,607 shares of the industrial products company valued at $4,854,000 after purchasing an additional 5,313 shares during the period. 46.11% of the shares are held by institutional investors.
Greif stock down 1.4%
GEF shares opened at $68.37 on Friday. Greif, Inc. has a 52-week low of $53.65 and a 52-week high of $72.00. The company has a market capitalization of $3.33 billion, a P/E ratio of 11.59, a price-to-earnings growth ratio of 0.91 and a beta of 0.92. The company’s 50-day simple moving average is $63.39 and its 200-day simple moving average is $61.33. The company has a debt ratio of 1.16, a quick ratio of 1.02 and a current ratio of 1.44.
Greif (NYSE:GEF – Get Rating) last announced its results on Wednesday, June 8. The industrial products company reported earnings per share (EPS) of $2.41 for the quarter, beating analysts’ consensus estimate of $1.79 by $0.62. Greif had a net margin of 5.60% and a return on equity of 28.42%. The company posted revenue of $1.67 billion for the quarter, compared to analysts’ estimates of $1.51 billion. In the same quarter a year earlier, the company posted EPS of $1.13. The company’s revenues increased by 24.4% compared to the same quarter last year. On average, analysts expect Greif, Inc. to post 7.66 earnings per share for the current year.
Greif Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Friday, June 17 received a dividend of $0.46 per share. The ex-dividend date was Thursday, June 16. This represents a dividend of $1.84 on an annualized basis and a dividend yield of 2.69%. Greif’s payout ratio is currently 31.19%.
Analysts set new price targets
A number of equity research analysts have recently released reports on GEF shares. StockNews.com upgraded Greif’s shares from a “strong buy” rating to a “buy” rating in a Friday, July 22 report. Wells Fargo & Company raised its price target on Greif shares from $71.00 to $73.00 and gave the company an “overweight” rating in a Monday, June 13 report. Finally, BMO Capital Markets downgraded Greif’s shares from an “outperforming” rating to a “market performing” rating and lowered its price target for the company from $71.00 to $52.00 in a research note from Friday, May 27. One analyst has assigned the stock a sell rating, one has issued a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat, Greif has an average rating of “Hold” and an average price target of $65.00.
Insiders place their bets
In other Greif news, director Mark A. Emkes sold 6,000 shares in a trade that took place on Wednesday, June 29. The shares were sold at an average price of $62.40, for a total transaction of $374,400.00. Following the transaction, the administrator now owns 34,326 shares of the company, valued at approximately $2,141,942.40. The sale was disclosed in an SEC filing, available on the SEC’s website. Insiders of the company hold 2.59% of the shares of the company.
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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 services and packaging; 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; remanufactured and reconditioned water bottles and industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing and other packaging services for chemicals, paints and pigments, food and beverages, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral products and other industries.
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