nVerses Capital LLC Invests $80,000 in Greif, Inc. (NYSE:GEF)

nVerses Capital LLC purchased a new stake in shares of Greif, Inc. (NYSE:GEF) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,400 shares of the industrial products company’s stock, valued at approximately $80,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in Greif in the second quarter valued at $64,000. Allspring Global Investments Holdings LLC raised its holdings in Greif by 770.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,933 shares of the industrial products company’s stock valued at $111,000 after buying an additional 1,711 shares during the period. Summit Global Investments lifted its position in Greif by 75.3% in the second quarter. Summit Global Investments now owns 8,221 shares of the industrial products company’s stock valued at $472,000 after buying an additional 3,531 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in Greif by 22.8% during the second quarter. Wedge Capital Management L L P NC now owns 17,727 shares of the industrial products company’s stock worth $1,019,000 after buying an additional 3,291 shares during the period. Finally, Twelve Points Wealth Management LLC increased its holdings in Greif by 11.9% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 24,132 shares of the industrial products company’s stock valued at $1,387,000 after purchasing an additional 2,559 shares during the last quarter. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GEF shares. Truist Financial reissued a “hold” rating and set a $67.00 target price (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $88.00 price objective on shares of Greif in a research report on Monday, August 26th. Wells Fargo & Company cut their price target on shares of Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Raymond James initiated coverage on shares of Greif in a research report on Friday, July 19th. They issued a “market perform” rating for the company. Finally, StockNews.com cut Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Greif Price Performance

Shares of GEF opened at $60.97 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.17 and a debt-to-equity ratio of 1.33. The stock’s 50 day moving average is $61.11 and its two-hundred day moving average is $62.74. Greif, Inc. has a twelve month low of $55.95 and a twelve month high of $71.93. The firm has a market capitalization of $2.87 billion, a PE ratio of 13.11 and a beta of 0.91.

Greif (NYSE:GEF) last announced its quarterly earnings data on Wednesday, June 5th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. Greif had a net margin of 4.99% and a return on equity of 13.28%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the business earned $1.77 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts anticipate that Greif, Inc. will post 4.41 earnings per share for the current year.

Greif Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a dividend of $0.54 per share. The ex-dividend date is Monday, September 16th. This is a boost from Greif’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.54%. Greif’s payout ratio is currently 46.45%.

Greif Profile

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.