First New York Securities LLC NY raised its position in shares of Greif Inc. (NYSE:GEF) by 47.7% during the second quarter, Holdings Channel reports. The fund owned 35,876 shares of the company’s stock after buying an additional 11,591 shares during the period. Greif comprises about 0.8% of First New York Securities LLC NY’s investment portfolio, making the stock its 21st largest position. First New York Securities LLC NY’s holdings in Greif were worth $1,337,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP increased its stake 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 worth $61,427,000 after buying an additional 508,987 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Greif by 171.6% in the first quarter. Prudential Financial Inc. now owns 767,700 shares of the company’s stock worth $25,143,000 after buying an additional 485,018 shares during the last quarter. Norges Bank acquired a new stake in shares of Greif during the fourth quarter worth about $10,274,000. Teachers Advisors Inc. increased its stake in shares of 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 last quarter. Finally, Mondrian Investment Partners LTD increased its stake in shares of Greif by 8,119.4% in the first quarter. Mondrian Investment Partners LTD now owns 85,975 shares of the company’s stock worth $2,816,000 after buying an additional 84,929 shares during the last quarter. 48.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Greif Inc. (NYSE:GEF) traded up 0.98% during mid-day trading on Tuesday, reaching $49.46. 289,371 shares of the company’s stock traded hands. Greif Inc. has a 12-month low of $23.88 and a 12-month high of $49.75. The company has a market cap of $2.36 billion, a P/E ratio of 30.01 and a beta of 1.47. The company’s 50 day moving average is $44.64 and its 200 day moving average is $38.13.
Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.19. The business earned $845 million during the quarter, compared to analysts’ expectations of $910.83 million. Greif had a net margin of 2.37% and a return on equity of 14.86%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. On average, analysts predict that Greif Inc. will post $2.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Monday, September 19th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.40%. Greif’s payout ratio is currently 126.32%.
GEF has been the subject of a number of recent research reports. Bank of America Corp. raised shares of Greif from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, September 6th. BMO Capital Markets cut shares of Greif from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 9th. Zacks Investment Research cut shares of Greif from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. DA Davidson restated a “buy” rating and set a $44.00 target price on shares of Greif in a research note on Sunday, September 4th. Finally, TheStreet upgraded shares of Greif from a “hold” rating to a “buy” rating in a research note on Wednesday, June 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.50.
Greif Company Profile
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.
Want to see what other hedge funds are holding GEF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Greif Inc. (NYSE:GEF).
Receive News & Ratings for Greif Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greif Inc. and related companies with MarketBeat.com's FREE daily email newsletter.