Sanctuary Advisors LLC Takes Position in Greif, Inc. (NYSE:GEF)

Sanctuary Advisors LLC purchased a new stake in shares of Greif, Inc. (NYSE:GEF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,609 shares of the industrial products company’s stock, valued at approximately $347,000.

A number of other hedge funds also recently made changes to their positions in GEF. Quarry LP raised its holdings in shares of Greif by 71.9% during the second quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after buying an additional 228 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Greif during the second quarter valued at approximately $64,000. DekaBank Deutsche Girozentrale increased its stake in shares of Greif by 80.5% during 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 acquired a new position in shares of Greif during the second quarter valued at approximately $80,000. Finally, Quest Partners LLC increased its stake in shares of Greif by 27,766.7% during 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. Institutional investors own 45.74% of the company’s stock.

Greif Trading Up 0.5 %

Greif stock opened at $65.20 on Friday. The company has a 50 day moving average price of $61.81 and a 200 day moving average price of $62.25. Greif, Inc. has a 52 week low of $55.95 and a 52 week 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 firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 14.02 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 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.14). Greif had a return on equity of 13.28% and a net margin of 4.99%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Research analysts forecast that Greif, Inc. will post 4.2 EPS for the current year.

Greif Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a $0.54 dividend. This is a positive change from Greif’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.16 dividend on an annualized basis and a yield of 3.31%. Greif’s dividend payout ratio (DPR) is currently 46.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Raymond James assumed coverage on shares of Greif in a research note on Friday, July 19th. They set a “market perform” rating on the stock. Bank of America decreased their price target on shares of Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Truist Financial restated a “hold” rating and issued a $67.00 price target (down previously from $69.00) on shares of Greif in a research report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and issued a $88.00 price target on shares of Greif in a research report on Monday, August 26th. Finally, Wells Fargo & Company decreased their price target on shares of Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $76.00.

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.