AQR Capital Management LLC Grows Position in Greif, Inc. (NYSE:GEF)

AQR Capital Management LLC boosted its stake in Greif, Inc. (NYSE:GEF - Free Report) by 16.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 372,040 shares of the industrial products company's stock after purchasing an additional 53,110 shares during the period. AQR Capital Management LLC owned about 0.79% of Greif worth $21,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AXA S.A. raised its stake in shares of Greif by 632.9% during the second quarter. AXA S.A. now owns 45,367 shares of the industrial products company's stock valued at $2,607,000 after acquiring an additional 39,177 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Greif by 122.7% in the 2nd quarter. Squarepoint Ops LLC now owns 7,362 shares of the industrial products company's stock worth $423,000 after buying an additional 4,056 shares during the period. Marshall Wace LLP bought a new stake in shares of Greif in the 2nd quarter worth approximately $4,012,000. Thrivent Financial for Lutherans increased its stake in shares of Greif by 59.2% during the second quarter. Thrivent Financial for Lutherans now owns 753,812 shares of the industrial products company's stock valued at $43,321,000 after buying an additional 280,330 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Greif during the second quarter valued at approximately $293,000. Institutional investors own 45.74% of the company's stock.

Greif Stock Down 1.0 %

Greif stock traded down $0.63 during mid-day trading on Tuesday, hitting $62.03. The company had a trading volume of 135,494 shares, compared to its average volume of 164,323. Greif, Inc. has a 12 month low of $55.95 and a 12 month high of $71.36. The company has a market capitalization of $2.92 billion, a PE ratio of 13.34 and a beta of 0.91. The stock's 50 day moving average price is $61.93 and its two-hundred day moving average price is $62.52. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.35.

Greif (NYSE:GEF - Get Free Report) last announced its quarterly 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). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Greif had a return on equity of 13.28% and a net margin of 4.99%. As a group, sell-side analysts anticipate that Greif, Inc. will post 4.2 earnings per share for the current fiscal year.

Greif Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.54 per share. The ex-dividend date is Monday, September 16th. This represents a $2.16 annualized dividend and a dividend yield of 3.48%. This is an increase from Greif's previous quarterly dividend of $0.52. Greif's dividend payout ratio (DPR) is 46.45%.

Wall Street Analysts Forecast Growth

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

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.