LSV Asset Management Decreases Stake in Greif, Inc. (NYSE:GEF)

LSV Asset Management decreased its stake in shares of Greif, Inc. (NYSE:GEF - Free Report) by 7.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 905,971 shares of the industrial products company's stock after selling 72,800 shares during the quarter. LSV Asset Management owned about 1.92% of Greif worth $52,066,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versor Investments LP raised its stake in Greif by 15.9% during the second quarter. Versor Investments LP now owns 18,234 shares of the industrial products company's stock worth $1,048,000 after purchasing an additional 2,507 shares during the period. Cadence Wealth Management LLC raised its position in shares of Greif by 11.1% during the 2nd quarter. Cadence Wealth Management LLC now owns 4,460 shares of the industrial products company's stock valued at $256,000 after buying an additional 444 shares during the period. nVerses Capital LLC acquired a new position in Greif in the second quarter valued at approximately $80,000. Innealta Capital LLC purchased a new position in Greif in the second quarter worth approximately $64,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Greif by 770.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,933 shares of the industrial products company's stock worth $111,000 after acquiring an additional 1,711 shares during the last quarter. Institutional investors and hedge funds own 45.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GEF. Wells Fargo & Company decreased their price target on Greif from $80.00 to $76.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. Bank of America decreased their target price on shares of Greif from $77.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Truist Financial reiterated a "hold" rating and set a $67.00 price target (down from $69.00) on shares of Greif in a research report on Friday, August 30th. Raymond James initiated coverage on shares of Greif in a research note on Friday, July 19th. They issued a "market perform" rating on the stock. Finally, StockNews.com cut shares of Greif from a "buy" rating to a "hold" rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $76.00.

Greif Stock Up 0.5 %

Shares of GEF traded up $0.29 during mid-day trading on Tuesday, hitting $59.62. 148,423 shares of the company's stock were exchanged, compared to its average volume of 166,272. The stock's 50-day moving average is $61.26 and its 200-day moving average is $62.68. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.28 and a current ratio of 1.70. Greif, Inc. has a fifty-two week low of $55.95 and a fifty-two week high of $71.36. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 12.83 and a beta of 0.91.

Greif Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.62%. This is a positive change from Greif's previous quarterly dividend of $0.52. Greif's dividend payout ratio is currently 44.73%.

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.