Greif’s (GEF) “Hold” Rating Reaffirmed at Truist Financial

Truist Financial restated their hold rating on shares of Greif (NYSE:GEF) in a research report report published on Friday morning, Benzinga reports. They currently have a $67.00 price objective on the industrial products company’s stock, down from their prior price objective of $69.00.

A number of other brokerages also recently issued reports on GEF. Wells Fargo & Company lowered their price target on Greif from $80.00 to $76.00 and set an overweight rating on the stock in a report on Monday, August 26th. Bank of America upgraded Greif from a neutral rating to a buy rating and upped their price objective for the company from $76.00 to $77.00 in a research report on Monday, June 17th. StockNews.com cut Greif from a buy rating to a hold rating in a research report on Wednesday, July 10th. Raymond James started coverage on Greif in a research report on Friday, July 19th. They set a market perform rating for the company. Finally, Stifel Nicolaus reiterated a buy rating and set a $88.00 price objective on shares of Greif in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Greif has a consensus rating of Moderate Buy and an average price target of $76.00.

Greif Trading Up 1.0 %

Greif stock opened at $62.52 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.17 and a debt-to-equity ratio of 1.33. The business’s fifty day simple moving average is $61.09 and its two-hundred day simple moving average is $62.75. Greif has a 12 month low of $55.95 and a 12 month high of $74.46. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 13.45 and a beta of 0.91.

Greif (NYSE:GEF) last released its earnings results on Wednesday, June 5th. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. Greif had a return on equity of 13.28% and a net margin of 4.99%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the company posted $1.77 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Greif will post 4.41 earnings per share for the current fiscal year.

Greif Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a $0.54 dividend. This is a boost from Greif’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.16 dividend on an annualized basis and a yield of 3.45%. Greif’s dividend payout ratio is presently 46.45%.

Hedge Funds Weigh In On Greif

A number of hedge funds have recently made changes to their positions in the business. Truist Financial Corp bought a new position in shares of Greif in the second quarter worth about $452,000. Quarry LP boosted its stake in shares of Greif by 71.9% in the second quarter. Quarry LP now owns 545 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 228 shares during the period. Systematic Financial Management LP boosted its stake in Greif by 12.3% during the second quarter. Systematic Financial Management LP now owns 262,058 shares of the industrial products company’s stock valued at $15,061,000 after buying an additional 28,669 shares during the last quarter. Creative Planning boosted its stake in Greif by 16.4% during the second quarter. Creative Planning now owns 10,260 shares of the industrial products company’s stock valued at $590,000 after buying an additional 1,448 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its stake in Greif by 21.7% during the second quarter. Dark Forest Capital Management LP now owns 13,737 shares of the industrial products company’s stock valued at $789,000 after buying an additional 2,446 shares during the last quarter. Institutional investors own 45.74% of the company’s stock.

About Greif

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.