Denali Advisors LLC Buys 28,200 Shares of Greif, Inc. (NYSE:GEF)

Denali Advisors LLC grew its stake in shares of Greif, Inc. (NYSE:GEF - Free Report) by 36.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,513 shares of the industrial products company's stock after purchasing an additional 28,200 shares during the quarter. Greif makes up approximately 1.7% of Denali Advisors LLC's portfolio, making the stock its 17th biggest position. Denali Advisors LLC owned 0.22% of Greif worth $6,064,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Greif by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,151 shares of the industrial products company's stock valued at $1,185,000 after purchasing an additional 886 shares during the period. Norges Bank purchased a new stake in shares of Greif during the fourth quarter valued at approximately $10,972,000. Quest Partners LLC purchased a new stake in shares of Greif during the fourth quarter valued at approximately $192,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Greif by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 409,407 shares of the industrial products company's stock valued at $26,853,000 after purchasing an additional 15,169 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Greif during the fourth quarter valued at approximately $524,000. Hedge funds and other institutional investors own 45.74% of the company's stock.

Greif Stock Up 0.4 %

GEF traded up $0.27 during trading on Tuesday, reaching $61.88. The stock had a trading volume of 119,480 shares, compared to its average volume of 165,233. The stock's 50 day moving average is $61.59 and its two-hundred day moving average is $62.60. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 13.31 and a beta of 0.91. Greif, Inc. has a one year low of $55.95 and a one year high of $71.36.

Greif Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.54 dividend. This is an increase from Greif's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.16 dividend on an annualized basis and a yield of 3.49%. Greif's dividend payout ratio is 46.45%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GEF. Stifel Nicolaus reissued a "buy" rating and set a $88.00 price objective on shares of Greif in a research note on Monday, August 26th. Truist Financial reaffirmed a "hold" rating and issued a $67.00 price target (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Raymond James started coverage on Greif in a research note on Friday, July 19th. They issued a "market perform" rating for the company. Bank of America dropped their price target on Greif from $77.00 to $73.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Finally, StockNews.com lowered Greif from a "buy" rating to a "hold" rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Greif currently has a consensus rating of "Moderate Buy" and an average price target of $76.00.

Greif 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.