Deprince Race & Zollo Inc. Has $29,232,000 Position in Greif Inc. (GEF)
Deprince Race & Zollo Inc. decreased its position in shares of Greif Inc. (NYSE:GEF) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 784,320 shares of the company’s stock after selling 21,970 shares during the period. Deprince Race & Zollo Inc. owned about 1.64% of Greif worth $29,232,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Greif during the fourth quarter worth about $10,274,000. Virginia Retirement System acquired a new stake in shares of Greif during the first quarter valued at $1,176,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Greif by 161.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,627 shares of the company’s stock valued at $1,101,000 after buying an additional 20,787 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Greif by 494.5% in the first quarter. Teachers Advisors Inc. now owns 279,213 shares of the company’s stock valued at $9,144,000 after buying an additional 232,248 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Greif by 171.6% in the first quarter. Prudential Financial Inc. now owns 767,700 shares of the company’s stock valued at $25,143,000 after buying an additional 485,018 shares during the last quarter. Institutional investors and hedge funds own 48.79% of the company’s stock.
Greif Inc. (NYSE:GEF) traded down 2.21% during mid-day trading on Tuesday, hitting $47.76. The stock had a trading volume of 208,559 shares. Greif Inc. has a 1-year low of $23.88 and a 1-year high of $49.99. The firm has a market cap of $2.28 billion, a P/E ratio of 28.98 and a beta of 1.28. The stock has a 50 day moving average of $46.01 and a 200-day moving average of $39.01.
Greif (NYSE:GEF) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.19. Greif had a return on equity of 14.86% and a net margin of 2.37%. The company had revenue of $845 million for the quarter, compared to analyst estimates of $910.83 million. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was down 9.1% compared to the same quarter last year. Analysts predict that Greif Inc. will post $2.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Monday, September 19th were paid a $0.42 dividend. The ex-dividend date was Thursday, September 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.52%. Greif’s dividend payout ratio is currently 126.32%.
GEF has been the topic of several recent analyst reports. BMO Capital Markets downgraded Greif from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 9th. TheStreet raised Greif from a “hold” rating to a “buy” rating in a research note on Wednesday, June 8th. Zacks Investment Research downgraded Greif from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $43.00 target price on shares of Greif in a research note on Tuesday, June 28th. Finally, Deutsche Bank AG reaffirmed a “market perform” rating and set a $36.00 target price on shares of Greif in a research note on Wednesday, June 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $42.50.
Greif, Inc is a producer of industrial packaging products and services. The Company’s products include steel, fiber and plastic drums, rigid intermediate bulk containers, closure systems, transit protection products, water bottles and reconditioned industrial containers, and offers services, such as container life cycle management, blending, filling, logistics, warehousing and other packaging services.
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