Greif (NYSE:GEF) Now Covered by Analysts at Sidoti

Sidoti started coverage on shares of Greif (NYSE:GEF) in a report published on Wednesday, MarketBeat reports. The firm issued a buy rating and a $93.00 price objective on the industrial products company’s stock.

A number of other analysts also recently weighed in on the company. Truist Financial reiterated a “hold” rating and set a $67.00 target price (down from $69.00) on shares of Greif in a research report on Friday, August 30th. Bank of America reduced their price objective on shares of Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company decreased their target price on shares of Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price target on shares of Greif in a report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.40.

Greif Price Performance

Shares of Greif stock opened at $71.30 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 15.50 and a beta of 0.91. Greif has a twelve month low of $55.95 and a twelve month high of $71.39. The company has a 50-day simple moving average of $64.18 and a two-hundred day simple moving average of $62.61.

Greif (NYSE:GEF) last released its quarterly earnings results on Wednesday, August 28th. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.14). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Greif had a net margin of 4.99% and a return on equity of 13.28%. Analysts forecast that Greif will post 4.2 EPS for the current year.

Greif Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a $0.54 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from Greif’s previous quarterly dividend of $0.52. Greif’s dividend payout ratio is 46.96%.

Institutional Trading of Greif

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP lifted its stake in shares of Greif by 71.9% in the 2nd quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 228 shares during the last quarter. Innealta Capital LLC bought a new position in Greif in the second quarter valued at about $64,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Greif by 80.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 561 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Greif during the second quarter valued at about $80,000. Finally, Quest Partners LLC grew its holdings in shares of Greif by 27,766.7% during the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 1,666 shares during the last quarter. Institutional investors and hedge funds 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.