State of New Jersey Common Pension Fund D Sells 14,477 Shares of Greif, Inc. (NYSE:GEF)

State of New Jersey Common Pension Fund D decreased its position in shares of Greif, Inc. (NYSE:GEF) by 32.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,240 shares of the industrial products company’s stock after selling 14,477 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Greif worth $1,738,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Greif in the second quarter valued at about $64,000. nVerses Capital LLC bought a new stake in Greif during the 2nd quarter valued at approximately $80,000. Quest Partners LLC lifted its holdings in Greif by 27,766.7% in the 2nd quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 1,666 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in Greif by 162,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,628 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,627 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Greif by 770.7% during 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 in the last quarter. Institutional investors own 45.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Greif Stock Down 0.1 %

Shares of NYSE:GEF opened at $62.38 on Wednesday. The company has a 50-day moving average price of $61.99 and a 200 day moving average price of $62.56. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.35. Greif, Inc. has a 12 month low of $55.95 and a 12 month high of $71.36. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 13.42 and a beta of 0.91.

Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, August 28th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.14). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Greif had a net margin of 4.99% and a return on equity of 13.28%. As a group, equities research analysts predict that Greif, Inc. will post 4.22 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. Shareholders of record on Monday, September 16th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.46%. This is a positive change from Greif’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, September 16th. Greif’s payout ratio is presently 46.45%.

Greif Company 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.