Wedge Capital Management L L P NC Has $1.30 Million Position in Greif, Inc. (NYSE:GEF)

Wedge Capital Management L L P NC increased its position in Greif, Inc. (NYSE:GEF) by 17.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,746 shares of the industrial products company’s stock after buying an additional 3,019 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Greif were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Avenue Securities LLC increased its position in Greif by 15.4% during the 3rd quarter. Park Avenue Securities LLC now owns 4,056 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 540 shares during the period. Sanctuary Advisors LLC acquired a new stake in Greif during the 2nd quarter valued at approximately $347,000. Truist Financial Corp acquired a new stake in Greif during the 2nd quarter valued at approximately $452,000. Quarry LP increased its position in Greif by 71.9% during the 2nd quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 228 shares during the period. Finally, Systematic Financial Management LP increased its position in Greif by 12.3% during the 2nd quarter. Systematic Financial Management LP now owns 262,058 shares of the industrial products company’s stock valued at $15,061,000 after purchasing an additional 28,669 shares during the period. Institutional investors and hedge funds own 45.74% of the company’s stock.

Greif Price Performance

Greif stock opened at $64.90 on Thursday. Greif, Inc. has a 52-week low of $55.95 and a 52-week high of $71.36. The stock’s 50 day moving average price is $61.70 and its two-hundred day moving average price is $62.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.28 and a current ratio of 1.70. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.96 and a beta of 0.91.

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

Greif Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were issued a $0.54 dividend. This is a boost from Greif’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, September 16th. Greif’s dividend payout ratio (DPR) is currently 46.45%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Truist Financial reissued a “hold” rating and set a $67.00 target price (down previously from $69.00) on shares of Greif in a research report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $88.00 price target on shares of Greif in a report on Monday, August 26th. Raymond James assumed coverage on Greif in a report on Friday, July 19th. They set a “market perform” rating on the stock. Bank of America cut their price target on Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Wells Fargo & Company cut their price target on Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Greif Company 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.