Victory Capital Management Inc. purchased a new position in shares of Greif, Inc. (NYSE:GEF – Get Rating) during the 1st quarter, Holdings Channel reports. The fund purchased 323,268 shares of the industrial products company’s stock, valued at approximately $19,616,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. lifted its position in Greif by 0.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,377,782 shares of the industrial products company’s stock worth $83,177,000 after buying an additional 4,591 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Greif by 3.5% in the 4th quarter. Invesco Ltd. now owns 196,967 shares of the industrial products company’s stock valued at $11,891,000 after purchasing an additional 6,726 shares during the period. Nordea Investment Management AB raised its holdings in shares of Greif by 2.2% in the 1st quarter. Nordea Investment Management AB now owns 133,832 shares of the industrial products company’s stock valued at $8,694,000 after purchasing an additional 2,857 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of Greif by 8.4% in the 4th quarter. Evergreen Capital Management LLC now owns 101,377 shares of the industrial products company’s stock valued at $6,120,000 after purchasing an additional 7,858 shares during the period. Finally, Denali Advisors LLC raised its holdings in shares of Greif by 7.7% in the 1st quarter. Denali Advisors LLC now owns 74,607 shares of the industrial products company’s stock valued at $4,854,000 after purchasing an additional 5,313 shares during the period. 46.11% of the stock is owned by institutional investors.
Greif Stock Down 1.4 %
Shares of GEF opened at $68.37 on Friday. Greif, Inc. has a 52 week low of $53.65 and a 52 week high of $72.00. The firm has a market cap of $3.33 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The firm’s 50-day simple moving average is $63.39 and its 200 day simple moving average is $61.33. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.02 and a current ratio of 1.44.
Greif Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 17th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, June 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.69%. Greif’s payout ratio is presently 31.19%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on GEF shares. StockNews.com cut shares of Greif from a “strong-buy” rating to a “buy” rating in a report on Friday, July 22nd. Wells Fargo & Company upped their target price on shares of Greif from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, June 13th. Finally, BMO Capital Markets lowered shares of Greif from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $71.00 to $52.00 in a research note on Friday, May 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Greif has an average rating of “Hold” and an average price target of $65.00.
Insiders Place Their Bets
In other Greif news, Director Mark A. Emkes sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $62.40, for a total transaction of $374,400.00. Following the transaction, the director now owns 34,326 shares in the company, valued at approximately $2,141,942.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.59% of the company’s stock.
Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. 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.
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