Municipal Employees Retirement System of Michigan acquired a new stake in shares of Greif, Inc. (NYSE:GEF) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,070 shares of the industrial products company’s stock, valued at approximately $225,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Investors Research Corp boosted its stake in shares of Greif by 1.8% during the fourth quarter. Investors Research Corp now owns 16,950 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 300 shares in the last quarter. Stone Ridge Asset Management LLC boosted its stake in shares of Greif by 4.0% during the fourth quarter. Stone Ridge Asset Management LLC now owns 12,810 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 498 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Greif by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 16,975 shares of the industrial products company’s stock valued at $630,000 after purchasing an additional 653 shares in the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Greif during the fourth quarter valued at approximately $26,000. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Greif by 13.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 6,378 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 48.22% of the company’s stock.
NYSE:GEF opened at $39.79 on Tuesday. Greif, Inc. has a 52 week low of $31.80 and a 52 week high of $62.75. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.83 and a quick ratio of 1.29. The company has a market cap of $1.97 billion, a P/E ratio of 11.12, a PEG ratio of 1.29 and a beta of 1.55.
Greif (NYSE:GEF) last posted its earnings results on Wednesday, February 27th. The industrial products company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. Greif had a net margin of 4.72% and a return on equity of 18.89%. The company had revenue of $897.00 million during the quarter, compared to analysts’ expectations of $922.24 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. Greif’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Greif, Inc. will post 3.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were given a dividend of $0.44 per share. The ex-dividend date was Friday, March 15th. This represents a $1.76 dividend on an annualized basis and a yield of 4.42%. Greif’s payout ratio is 49.86%.
A number of research firms have recently issued reports on GEF. Bank of America set a $38.00 price objective on shares of Greif and gave the company a “sell” rating in a research note on Thursday, March 7th. Zacks Investment Research cut shares of Greif from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. KeyCorp reissued a “sell” rating and set a $31.00 target price on shares of Greif in a research report on Thursday, February 28th. Robert W. Baird cut shares of Greif from an “outperform” rating to a “neutral” rating in a research report on Monday, January 7th. Finally, ValuEngine raised shares of Greif from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 1st. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of “Sell” and an average price target of $40.38.
Greif Company Profile
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.
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