SG Americas Securities LLC Sells 7,359 Shares of Greif, Inc. (NYSE:GEF)

SG Americas Securities LLC lowered its position in Greif, Inc. (NYSE:GEFGet Rating) by 42.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,092 shares of the industrial products company’s stock after selling 7,359 shares during the period. SG Americas Securities LLC’s holdings in Greif were worth $657,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in Greif in the fourth quarter valued at about $26,000. Lazard Asset Management LLC grew its position in shares of Greif by 71.4% in the 4th quarter. Lazard Asset Management LLC now owns 1,006 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 419 shares during the period. Northwest Investment Counselors LLC increased its stake in Greif by 26.3% during the 1st quarter. Northwest Investment Counselors LLC now owns 1,200 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 250 shares in the last quarter. Fifth Lane Capital LP acquired a new stake in Greif during the 4th quarter worth approximately $101,000. Finally, Wedge Capital Management L L P NC acquired a new stake in Greif during the 1st quarter worth approximately $221,000. Institutional investors and hedge funds own 46.11% of the company’s stock.

Greif Stock Down 1.3 %

NYSE:GEF opened at $70.04 on Wednesday. The stock’s 50 day moving average price is $63.08 and its two-hundred day moving average price is $61.23. Greif, Inc. has a twelve month low of $53.65 and a twelve month high of $72.00. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. The company has a quick ratio of 1.02, a current ratio of 1.44 and a debt-to-equity ratio of 1.16.

Greif (NYSE:GEFGet Rating) last released its quarterly earnings results on Wednesday, June 8th. The industrial products company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.62. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Greif had a return on equity of 28.42% and a net margin of 5.60%. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the firm posted $1.13 EPS. Equities research analysts expect that Greif, Inc. will post 7.66 earnings per share for the current fiscal year.

Greif Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, June 16th. Greif’s payout ratio is 31.19%.

Insider Transactions at Greif

In other Greif news, Director Mark A. Emkes sold 6,000 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $62.40, for a total value of $374,400.00. Following the completion of the sale, the director now owns 34,326 shares in the company, valued at approximately $2,141,942.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Greif from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 22nd. Wells Fargo & Company increased their target price on Greif from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, June 13th. Finally, BMO Capital Markets lowered Greif from an “outperform” rating to a “market perform” rating and cut their price target for the company from $71.00 to $52.00 in a report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Greif presently has a consensus rating of “Hold” and an average price target of $65.00.

Greif Company Profile

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Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. 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.

Further Reading

Institutional Ownership by Quarter for Greif (NYSE:GEF)

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