W.E. Donoghue & Co. LLC increased its stake in Greif, Inc. (NYSE:GEF) by 103.0% in the third quarter, HoldingsChannel.com reports. The firm owned 17,214 shares of the industrial products company’s stock after purchasing an additional 8,735 shares during the quarter. W.E. Donoghue & Co. LLC’s holdings in Greif were worth $924,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Greif in the 2nd quarter worth $162,000. Acadian Asset Management LLC boosted its stake in shares of Greif by 2,472.1% during the 2nd quarter. Acadian Asset Management LLC now owns 4,887 shares of the industrial products company’s stock worth $258,000 after buying an additional 4,697 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Greif during the 1st quarter worth about $267,000. Xact Kapitalforvaltning AB acquired a new position in shares of Greif during the 1st quarter worth about $274,000. Finally, Visionary Asset Management Inc. boosted its stake in shares of Greif by 17.0% during the 3rd quarter. Visionary Asset Management Inc. now owns 6,925 shares of the industrial products company’s stock worth $375,000 after buying an additional 1,005 shares during the last quarter. 47.86% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on GEF. Zacks Investment Research downgraded shares of Greif from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. KeyCorp restated a “sell” rating and set a $50.00 price objective on shares of Greif in a research note on Thursday, August 30th. Bank of America downgraded shares of Greif from a “neutral” rating to an “underperform” rating and set a $55.00 price objective for the company. in a research note on Monday, July 16th. Finally, Wells Fargo & Co set a $65.00 price objective on shares of Greif and gave the stock a “buy” rating in a research note on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $62.43.
Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, August 29th. The industrial products company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. Greif had a net margin of 5.26% and a return on equity of 18.10%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted $0.85 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Greif, Inc. will post 3.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.82%. This is an increase from Greif’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, September 14th. Greif’s dividend payout ratio is currently 59.66%.
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates in four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.
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