First Trust Advisors LP lowered its position in shares of Greif Inc. (NYSE:GEF) by 67.2% during the second quarter, Holdings Channel reports. The fund owned 17,974 shares of the company’s stock after selling 36,755 shares during the period. First Trust Advisors LP’s holdings in Greif were worth $670,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc purchased a new stake in Greif during the second quarter worth $200,000. Breton Hill Capital Ltd. purchased a new stake in Greif during the second quarter worth $205,000. Oregon Public Employees Retirement Fund raised 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 worth $320,000 after buying an additional 208 shares during the last quarter. Societe Generale purchased a new stake in Greif during the second quarter worth $366,000. Finally, SG Americas Securities LLC raised 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 worth $366,000 after buying an additional 538 shares during the last quarter. 48.80% of the stock is owned by institutional investors and hedge funds.
Greif Inc. (NYSE:GEF) traded up 1.08% on Monday, hitting $47.72. 46,984 shares of the stock were exchanged. The company’s 50 day moving average is $46.56 and its 200 day moving average is $39.25. Greif Inc. has a 1-year low of $23.88 and a 1-year high of $49.99. The stock has a market cap of $2.28 billion, a PE ratio of 28.96 and a beta of 1.28.
Greif (NYSE:GEF) last posted its earnings results on Wednesday, August 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.19. The firm 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 company’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. On average, equities research analysts expect that Greif Inc. will post $2.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Monday, September 19th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Thursday, September 15th. Greif’s payout ratio is 126.32%.
A number of equities research analysts recently weighed in on the stock. DA Davidson lowered shares of Greif from a “buy” rating to a “neutral” rating and raised their price target 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 set a $36.00 price objective on shares of Greif in a report on Wednesday, June 29th. 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 report on Tuesday, September 6th. BMO Capital Markets reissued a “hold” rating and set a $36.00 price objective on shares of Greif in a report on Monday, June 27th. Finally, Zacks Investment Research lowered shares of Greif from a “buy” rating to a “hold” rating in a report on Monday, June 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Greif presently has a consensus rating of “Hold” and a consensus 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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