Northwestern Mutual Investment Management Company LLC boosted its position in Greif Inc. (NYSE:GEF) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,450 shares of the company’s stock after buying an additional 18 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Greif were worth $166,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in GEF. Mason Street Advisors LLC purchased a new position in Greif during the second quarter worth approximately $438,000. Public Employees Retirement System of Ohio increased its position in shares of Greif by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 6,098 shares of the company’s stock valued at $227,000 after buying an additional 477 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Greif during the second quarter valued at approximately $247,000. AQR Capital Management LLC increased its position in shares of Greif by 391.8% in the second quarter. AQR Capital Management LLC now owns 92,643 shares of the company’s stock valued at $3,453,000 after buying an additional 73,807 shares during the period. Finally, Panagora Asset Management Inc. increased its position in shares of Greif by 1,968.7% in the second quarter. Panagora Asset Management Inc. now owns 41,374 shares of the company’s stock valued at $1,542,000 after buying an additional 39,374 shares during the period. Hedge funds and other institutional investors own 48.79% of the company’s stock.
Shares of Greif Inc. (NYSE:GEF) opened at 49.59 on Monday. Greif Inc. has a 52-week low of $23.88 and a 52-week high of $49.99. The company has a market capitalization of $2.37 billion, a PE ratio of 30.09 and a beta of 1.28. The stock has a 50 day moving average price of $45.61 and a 200 day moving average price of $38.60.
Greif (NYSE:GEF) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.19. The business had revenue of $845 million for the quarter, compared to analysts’ expectations of $910.83 million. Greif had a return on equity of 14.86% and a net margin of 2.37%. Greif’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, analysts predict that Greif Inc. will post $2.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Monday, September 19th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, September 15th. Greif’s payout ratio is 126.32%.
Several brokerages have commented on GEF. Robert W. Baird reiterated a “neutral” rating and set a $43.00 price target on shares of Greif in a report on Tuesday, June 28th. DA Davidson downgraded Greif from a “buy” rating to a “neutral” rating and increased 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. TheStreet upgraded Greif from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. Deutsche Bank AG reiterated a “market perform” rating and set a $36.00 price target on shares of Greif in a report on Wednesday, June 29th. Finally, Zacks Investment Research upgraded Greif from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Wednesday, June 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average 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.
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