Wedge Capital Management L L P NC Has $1.30 Million Position in Greif, Inc. (NYSE:GEF)

Wedge Capital Management L L P NC raised its stake in Greif, Inc. (NYSE:GEF) by 17.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,746 shares of the industrial products company’s stock after purchasing an additional 3,019 shares during the period. Wedge Capital Management L L P NC’s holdings in Greif were worth $1,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GEF. Quarry LP boosted its position in shares of Greif by 71.9% in the second quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 228 shares during the period. Innealta Capital LLC bought a new stake in shares of Greif in the second quarter valued at about $64,000. DekaBank Deutsche Girozentrale boosted its position in shares of Greif by 80.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 561 shares during the period. nVerses Capital LLC bought a new stake in shares of Greif in the second quarter valued at about $80,000. Finally, Quest Partners LLC boosted its position in shares of Greif by 27,766.7% in the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 1,666 shares during the period. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GEF has been the subject of a number of recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $88.00 target price on shares of Greif in a research report on Monday, August 26th. Raymond James began coverage on shares of Greif in a research report on Friday, July 19th. They set a “market perform” rating for the company. StockNews.com cut shares of Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Truist Financial reaffirmed a “hold” rating and set a $67.00 price objective (down previously from $69.00) on shares of Greif in a research report on Friday, August 30th. Finally, Bank of America cut their price objective on shares of Greif from $77.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

Greif Stock Up 2.3 %

GEF stock opened at $64.90 on Thursday. The stock has a market capitalization of $3.06 billion, a P/E ratio of 13.96 and a beta of 0.91. 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 firm has a 50-day moving average price of $61.70 and a 200-day moving average price of $62.23.

Greif (NYSE:GEF) last posted its earnings results on Wednesday, August 28th. The industrial products company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 13.28% and a net margin of 4.99%. As a group, equities research analysts anticipate that Greif, Inc. will post 4.2 EPS for the current fiscal year.

Greif Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a $0.54 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.33%. This is a boost from Greif’s previous quarterly dividend of $0.52. Greif’s dividend payout ratio is 46.45%.

About Greif

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.