Greif, Inc. (GEF) To Go Ex-Dividend on September 17th

Greif, Inc. (NYSE:GEFGet Free Report) declared a quarterly dividend on Tuesday, August 25th. Shareholders of record on Thursday, September 17th will be paid a dividend of 0.62 per share by the industrial products company on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 17th.

Greif has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Greif has a dividend payout ratio of 45.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Greif to earn $4.65 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 53.3%.

Greif Trading Down 0.8%

GEF stock opened at $81.65 on Tuesday. The company has a market capitalization of $3.77 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 0.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.29. Greif has a one year low of $55.75 and a one year high of $90.57. The company’s 50 day moving average price is $82.62 and its two-hundred day moving average price is $72.95.

Greif (NYSE:GEFGet Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.50. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Greif had a net margin of 7.53% and a return on equity of 8.09%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, analysts predict that Greif will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Timothy Bergwall sold 2,000 shares of Greif stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $83.14, for a total value of $166,280.00. Following the sale, the senior vice president directly owned 53,832 shares in the company, valued at approximately $4,475,592.48. This trade represents a 3.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bala Sathyanarayanan sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $109.67, for a total value of $109,670.00. Following the transaction, the executive vice president directly owned 7,549 shares in the company, valued at $827,898.83. This trade represents a 11.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 98,987 shares of company stock valued at $8,644,178 over the last ninety days. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of Greif

Several large investors have recently added to or reduced their stakes in GEF. Sequoia Financial Advisors LLC raised its stake in Greif by 18.6% in the second quarter. Sequoia Financial Advisors LLC now owns 21,021 shares of the industrial products company’s stock worth $1,566,000 after buying an additional 3,304 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Greif by 362.2% during the 2nd quarter. Engineers Gate Manager LP now owns 31,706 shares of the industrial products company’s stock worth $2,362,000 after acquiring an additional 24,846 shares during the period. Squarepoint Ops LLC raised its position in shares of Greif by 29.1% in the 2nd quarter. Squarepoint Ops LLC now owns 36,906 shares of the industrial products company’s stock worth $2,749,000 after acquiring an additional 8,322 shares in the last quarter. Odyssean LLC lifted its stake in shares of Greif by 500.8% in the 2nd quarter. Odyssean LLC now owns 18,506 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 15,426 shares during the period. Finally, AXQ Capital LP lifted its stake in shares of Greif by 21.3% in the 2nd quarter. AXQ Capital LP now owns 4,487 shares of the industrial products company’s stock valued at $334,000 after purchasing an additional 789 shares during the period. Institutional investors own 45.74% of the company’s stock.

About Greif

(Get Free Report)

Greif, Inc (NYSE: GEF) is a global packaging company that produces and sells industrial packaging products and paper-based packaging materials. Its offerings include fiber, steel and plastic drums; intermediate bulk containers; containerboard and corrugated products; paperboard tubes and cores; and related closure systems and services.

The company serves customers in industries such as chemicals, food and beverage, agriculture, pharmaceuticals, petroleum, and other industrial markets. Greif’s packaging products are designed to help customers transport, protect and store bulk materials, while its paper and corrugated products support a broad range of commercial and industrial applications.

Greif traces its history to 1877, when it was founded as a cooperage business in Cleveland, Ohio.

See Also

Dividend History for Greif (NYSE:GEF)

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