State Board of Administration of Florida Retirement System cut its position in shares of Greif Inc. (NYSE:GEF) by 24.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,099 shares of the company’s stock after selling 5,954 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Greif were worth $675,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Breton Hill Capital Ltd. purchased a new stake in Greif during the second quarter valued at $205,000. Oregon Public Employees Retirement Fund increased its stake in Greif by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 8,599 shares of the company’s stock valued at $320,000 after buying an additional 208 shares during the last quarter. Societe Generale purchased a new stake in Greif during the second quarter valued at $366,000. SG Americas Securities LLC increased its stake in Greif by 5.8% in the second quarter. SG Americas Securities LLC now owns 9,808 shares of the company’s stock valued at $366,000 after buying an additional 538 shares during the last quarter. Finally, State Treasurer State of Michigan increased its stake in Greif by 1.0% in the second quarter. State Treasurer State of Michigan now owns 10,300 shares of the company’s stock valued at $384,000 after buying an additional 100 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 1.12% during midday trading on Friday, hitting $49.59. The company had a trading volume of 261,783 shares. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 30.09 and a beta of 1.47. Greif Inc. has a 12 month low of $23.88 and a 12 month high of $49.99. The stock’s 50-day moving average price is $45.61 and its 200-day moving average price is $38.60.
Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.19. Greif had a return on equity of 14.86% and a net margin of 2.37%. The company had revenue of $845 million for the quarter, compared to the consensus estimate of $910.83 million. During the same period in the previous year, the business earned $0.60 EPS. Greif’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Greif Inc. will post $2.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Monday, September 19th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.68 annualized dividend and a yield of 3.39%. Greif’s dividend payout ratio is presently 126.32%.
Several research firms have recently weighed in on GEF. TheStreet raised Greif from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. DA Davidson downgraded Greif from a “buy” rating to a “neutral” rating and increased their price objective for the company from $44.00 to $45.00 in a report on Friday, September 2nd. They noted that the move was a valuation call. Deutsche Bank AG reissued a “market perform” rating and issued a $36.00 price objective on shares of Greif in a report on Wednesday, June 29th. Bank of America Corp. raised Greif from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Tuesday, September 6th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $36.00 price objective on shares of Greif in a report on Monday, June 27th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $42.50.
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.
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