Greif, Inc. (NYSE:GEF) Position Lessened by LSV Asset Management

LSV Asset Management lowered its stake in shares of Greif, Inc. (NYSE:GEF) by 7.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 905,971 shares of the industrial products company’s stock after selling 72,800 shares during the quarter. LSV Asset Management owned approximately 1.92% of Greif worth $52,066,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Versor Investments LP boosted its holdings in shares of Greif by 15.9% during the second quarter. Versor Investments LP now owns 18,234 shares of the industrial products company’s stock valued at $1,048,000 after acquiring an additional 2,507 shares during the period. Cadence Wealth Management LLC lifted its position in Greif by 11.1% in the 2nd quarter. Cadence Wealth Management LLC now owns 4,460 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 444 shares during the last quarter. nVerses Capital LLC acquired a new position in Greif during the 2nd quarter valued at about $80,000. Innealta Capital LLC bought a new position in Greif in the 2nd quarter worth about $64,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Greif by 770.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,933 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 1,711 shares during the period. 45.74% of the stock is owned by institutional investors and hedge funds.

Greif Stock Down 2.9 %

Shares of GEF stock opened at $59.32 on Tuesday. Greif, Inc. has a 1 year low of $55.95 and a 1 year high of $71.36. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.28 and a current ratio of 1.70. The business’s fifty day moving average is $61.26 and its 200-day moving average is $62.68. The stock has a market cap of $2.80 billion, a PE ratio of 12.76 and a beta of 0.91.

Greif Increases Dividend

The company also recently announced 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. This is a positive change from Greif’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Monday, September 16th. Greif’s payout ratio is presently 44.73%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GEF. Stifel Nicolaus reiterated 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 reduced their price target on Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Bank of America decreased their price target on Greif from $77.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Truist Financial restated a “hold” rating and set a $67.00 price objective (down from $69.00) on shares of Greif in a research note on Friday, August 30th. Finally, StockNews.com lowered shares of Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

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.