Innealta Capital LLC Takes $64,000 Position in Greif, Inc. (NYSE:GEF)

Innealta Capital LLC purchased a new stake in Greif, Inc. (NYSE:GEF) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,109 shares of the industrial products company’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEF. TFO Wealth Partners LLC boosted its position in Greif by 162,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,628 shares of the industrial products company’s stock valued at $107,000 after buying an additional 1,627 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in 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 buying an additional 1,711 shares in the last quarter. Quest Partners LLC acquired a new position in Greif in the fourth quarter valued at about $192,000. Vanguard Personalized Indexing Management LLC boosted its position in Greif by 21.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,460 shares of the industrial products company’s stock valued at $293,000 after buying an additional 786 shares in the last quarter. Finally, SkyOak Wealth LLC acquired a new position in Greif in the first quarter valued at about $337,000. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Greif Trading Up 1.0 %

GEF opened at $62.52 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.57 and a quick ratio of 1.17. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 13.45 and a beta of 0.91. The firm has a 50 day simple moving average of $61.09 and a 200 day simple moving average of $62.74. Greif, Inc. has a fifty-two week low of $55.95 and a fifty-two week high of $74.46.

Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, June 5th. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.30 billion. Greif had a net margin of 5.17% and a return on equity of 15.57%. Greif’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share. On average, sell-side analysts anticipate that Greif, Inc. will post 4.45 earnings per share for the current year.

Greif Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Greif’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, September 16th. Greif’s payout ratio is 44.73%.

Analyst Upgrades and Downgrades

GEF has been the topic of a number of recent analyst reports. Raymond James initiated coverage on shares of Greif in a research report on Friday, July 19th. They issued a “market perform” rating on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 target price on shares of Greif in a research note on Monday, August 26th. Bank of America dropped their target price on shares of Greif from $77.00 to $73.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company dropped their target price on shares of Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, StockNews.com downgraded shares of Greif from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.