HBK Investments L P raised its stake in Greif, Inc. (NYSE:GEF) by 133.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,500 shares of the industrial products company’s stock after buying an additional 47,800 shares during the quarter. HBK Investments L P owned about 0.17% of Greif worth $5,058,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. bought a new position in Greif in the third quarter valued at approximately $216,000. ING Groep NV acquired a new stake in shares of Greif in the fourth quarter valued at approximately $236,000. Quantbot Technologies LP raised its holdings in shares of Greif by 3,048.2% in the third quarter. Quantbot Technologies LP now owns 4,376 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 4,237 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Greif in the fourth quarter valued at approximately $380,000. Finally, New Mexico Educational Retirement Board acquired a new stake in shares of Greif in the fourth quarter valued at approximately $388,000. 51.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on GEF shares. BMO Capital Markets reiterated a “hold” rating and issued a $55.00 price objective on shares of Greif in a report on Friday, November 24th. Zacks Investment Research downgraded shares of Greif from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. DA Davidson upgraded shares of Greif from a “neutral” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Thursday, December 7th. Robert W. Baird reiterated an “outperform” rating and issued a $72.00 price objective (up from $66.00) on shares of Greif in a report on Friday, December 8th. Finally, KeyCorp set a $47.00 price objective on shares of Greif and gave the company a “sell” rating in a report on Friday, December 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Greif presently has an average rating of “Hold” and an average target price of $62.60.
Greif (NYSE:GEF) last issued its earnings results on Wednesday, February 28th. The industrial products company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.17). The firm had revenue of $905.70 million for the quarter, compared to analyst estimates of $867.24 million. Greif had a return on equity of 16.63% and a net margin of 4.56%. Greif’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. analysts predict that Greif, Inc. will post 3.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Monday, March 19th will be issued a $0.42 dividend. The ex-dividend date is Friday, March 16th. This represents a $1.68 annualized dividend and a dividend yield of 3.32%. Greif’s dividend payout ratio is currently 58.33%.
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Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.
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