Greif, Inc. (NYSE:GEF) Position Increased by Lazard Asset Management LLC

Lazard Asset Management LLC raised its position in shares of Greif, Inc. (NYSE:GEFGet Rating) by 145.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,493 shares of the industrial products company’s stock after buying an additional 1,479 shares during the quarter. Lazard Asset Management LLC’s holdings in Greif were worth $155,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Comerica Bank lifted its stake in Greif by 0.9% during the first quarter. Comerica Bank now owns 23,084 shares of the industrial products company’s stock valued at $1,497,000 after buying an additional 200 shares in the last quarter. Xponance Inc. increased its holdings in Greif by 5.2% in the second quarter. Xponance Inc. now owns 4,083 shares of the industrial products company’s stock worth $255,000 after buying an additional 201 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Greif by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,079 shares of the industrial products company’s stock worth $816,000 after buying an additional 220 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Greif by 1.9% in the first quarter. Yousif Capital Management LLC now owns 13,901 shares of the industrial products company’s stock worth $904,000 after buying an additional 260 shares during the last quarter. Finally, Texas Permanent School Fund increased its holdings in Greif by 1.9% in the second quarter. Texas Permanent School Fund now owns 19,190 shares of the industrial products company’s stock worth $1,197,000 after buying an additional 367 shares during the last quarter. 47.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Nicholas Joseph Petitti sold 4,618 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $72.87, for a total value of $336,513.66. Following the completion of the sale, the insider now directly owns 2,265,740 shares of the company’s stock, valued at $165,104,473.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Patrick Gerard Mullaney sold 500 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $67.65, for a total value of $33,825.00. Following the completion of the transaction, the senior vice president now directly owns 3,843 shares of the company’s stock, valued at $259,978.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Nicholas Joseph Petitti sold 4,618 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $72.87, for a total value of $336,513.66. Following the completion of the transaction, the insider now directly owns 2,265,740 shares of the company’s stock, valued at $165,104,473.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,906 shares of company stock valued at $3,238,954. 2.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GEF shares. BMO Capital Markets downgraded Greif from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $72.00 to $62.00 in a report on Sunday, October 30th. Bank of America downgraded Greif from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $67.00 in a report on Thursday, October 13th. StockNews.com upgraded Greif from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 13th. Stifel Nicolaus began coverage on Greif in a report on Friday, September 2nd. They set a “buy” rating and a $90.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on Greif from $71.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Greif has a consensus rating of “Hold” and an average target price of $68.00.

Greif Trading Up 1.2 %

Shares of GEF stock opened at $71.87 on Tuesday. Greif, Inc. has a 12 month low of $53.65 and a 12 month high of $73.79. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $65.16 and its two-hundred day moving average is $64.80. The company has a market cap of $3.42 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97.

Greif (NYSE:GEFGet Rating) last posted its quarterly earnings data on Wednesday, August 31st. The industrial products company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.37. Greif had a return on equity of 29.00% and a net margin of 5.93%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the business earned $1.93 earnings per share. Greif’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts predict that Greif, Inc. will post 8.02 EPS for the current year.

Greif Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.78%. This is a boost from Greif’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, September 15th. Greif’s dividend payout ratio is currently 31.40%.

About Greif

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding GEF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Greif, Inc. (NYSE:GEFGet Rating).

Institutional Ownership by Quarter for Greif (NYSE:GEF)

Receive News & Ratings for Greif Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greif and related companies with MarketBeat.com's FREE daily email newsletter.