Greif Bros. (GEF) Hits New 52-Week High on Strong Earnings

Shares of Greif Bros. Corporation (NYSE:GEF) hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $64.65 and last traded at $54.83, with a volume of 246000 shares traded. The stock had previously closed at $54.78.

The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. Greif Bros. had a return on equity of 15.49% and a net margin of 2.65%. The firm had revenue of $968.00 million during the quarter, compared to analyst estimates of $931.96 million. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was up 11.6% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Monday, December 18th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, December 15th. Greif Bros.’s dividend payout ratio (DPR) is presently 105.66%.

GEF has been the subject of a number of analyst reports. Zacks Investment Research lowered Greif Bros. from a “hold” rating to a “sell” rating in a research report on Thursday, November 30th. BMO Capital Markets reaffirmed a “hold” rating and set a $55.00 price objective on shares of Greif Bros. in a research report on Friday, November 24th. KeyCorp reiterated a “sell” rating on shares of Greif Bros. in a research note on Friday, November 10th. Bank of America downgraded Greif Bros. from a “buy” rating to a “neutral” rating and increased their target price for the company from $60.45 to $63.00 in a research note on Friday, September 1st. Finally, Robert W. Baird reiterated a “buy” rating and set a $66.00 target price on shares of Greif Bros. in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $57.00.

Hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its stake in shares of Greif Bros. by 3,048.2% in the 3rd quarter. Quantbot Technologies LP now owns 4,376 shares of the industrial products company’s stock worth $256,000 after buying an additional 4,237 shares during the last quarter. LS Investment Advisors LLC lifted its position in Greif Bros. by 17.9% during the second quarter. LS Investment Advisors LLC now owns 2,022 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 307 shares in the last quarter. Nine Chapters Capital Management LLC lifted its position in Greif Bros. by 83.3% during the third quarter. Nine Chapters Capital Management LLC now owns 8,800 shares of the industrial products company’s stock valued at $515,000 after purchasing an additional 4,000 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Greif Bros. during the third quarter valued at $216,000. Finally, Mondrian Investment Partners LTD lifted its position in Greif Bros. by 21.0% during the second quarter. Mondrian Investment Partners LTD now owns 64,244 shares of the industrial products company’s stock valued at $3,584,000 after purchasing an additional 11,166 shares in the last quarter. Hedge funds and other institutional investors own 48.54% of the company’s stock.

The company has a market cap of $2,620.78, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.84 and a beta of 1.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.10 and a current ratio of 1.56.

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Greif Bros. Company Profile

Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.

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