Stifel Financial Corp Boosts Stock Holdings in Greif, Inc. (NYSE:GEF)

Stifel Financial Corp lifted its position in Greif, Inc. (NYSE:GEF) by 97.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,045 shares of the industrial products company’s stock after purchasing an additional 16,759 shares during the period. Stifel Financial Corp’s holdings in Greif were worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Greif by 770.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,933 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 1,711 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Greif during the 2nd quarter worth approximately $64,000. nVerses Capital LLC purchased a new position in shares of Greif during the 2nd quarter valued at approximately $80,000. Cadence Wealth Management LLC grew its stake in Greif by 11.1% in the 2nd quarter. Cadence Wealth Management LLC now owns 4,460 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 444 shares during the period. Finally, Versor Investments LP increased its holdings in Greif by 15.9% in the 2nd quarter. Versor Investments LP now owns 18,234 shares of the industrial products company’s stock worth $1,048,000 after acquiring an additional 2,507 shares in the last quarter. 45.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Sidoti started coverage on shares of Greif in a report on Wednesday, November 20th. They set a “buy” rating and a $93.00 price objective on the stock. Robert W. Baird lifted their price objective on Greif from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company reduced their target price on Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Bank of America lowered their price target on Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $88.00 price objective on shares of Greif in a research note on Monday, August 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.67.

Greif Price Performance

Shares of GEF stock opened at $60.45 on Friday. The firm’s 50-day moving average is $66.56 and its two-hundred day moving average is $63.17. Greif, Inc. has a 12 month low of $55.95 and a 12 month high of $73.16. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.53 and a quick ratio of 1.14. The company has a market capitalization of $2.85 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

Greif (NYSE:GEF) last released its quarterly earnings data on Wednesday, December 4th. The industrial products company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.23). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Greif had a net margin of 4.81% and a return on equity of 11.85%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 earnings per share. Analysts predict that Greif, Inc. will post 4.49 earnings per share for the current year.

Greif Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Monday, December 16th. Greif’s dividend payout ratio is presently 47.79%.

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.