Greif (NYSE:GEF-B) Shares Down 3.4% – Here’s Why

Greif, Inc. (NYSE:GEF-B) shares dropped 3.4% during mid-day trading on Wednesday . The company traded as low as $61.49 and last traded at $61.74. Approximately 9,426 shares traded hands during mid-day trading, The stock had previously closed at $63.91.

Greif Price Performance

The company’s 50 day moving average is $71.06 and its 200-day moving average is $68.16.

Greif Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.50%. Greif’s dividend payout ratio is 67.08%.

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.