Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lowered its stake in shares of Greif, Inc. (NYSE:GEF) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,900 shares of the industrial products company’s stock after selling 1,800 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.05% of Greif worth $1,317,000 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. Itau Unibanco Holding S.A. bought a new position in Greif in the 2nd quarter valued at $162,000. Point72 Asia Hong Kong Ltd grew its position in Greif by 116.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,538 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 1,905 shares during the last quarter. Acadian Asset Management LLC grew its position in Greif by 2,472.1% in the 2nd quarter. Acadian Asset Management LLC now owns 4,887 shares of the industrial products company’s stock valued at $258,000 after acquiring an additional 4,697 shares during the last quarter. Stifel Financial Corp bought a new position in Greif in the 1st quarter valued at $267,000. Finally, Xact Kapitalforvaltning AB bought a new position in Greif in the 1st quarter valued at $274,000. 47.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GEF traded down $0.54 during midday trading on Friday, reaching $46.80. 170,546 shares of the stock were exchanged, compared to its average volume of 195,688. Greif, Inc. has a 52 week low of $45.84 and a 52 week high of $65.60. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.72 and a beta of 1.27.

Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, August 29th. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. Greif had a return on equity of 18.10% and a net margin of 5.26%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Greif, Inc. will post 3.6 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 17th were paid a dividend of $0.44 per share. This is a boost from Greif’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Friday, September 14th. Greif’s dividend payout ratio is 59.66%.

Several brokerages have commented on GEF. Zacks Investment Research raised Greif from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Wednesday, August 1st. Bank of America downgraded Greif from a “neutral” rating to an “underperform” rating and set a $55.00 price target on the stock. in a research report on Monday, July 16th. Finally, KeyCorp reissued a “sell” rating and set a $50.00 price target on shares of Greif in a research report on Thursday, August 30th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Greif currently has an average rating of “Hold” and an average price target of $62.00.

Greif Profile

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates in four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.

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Institutional Ownership by Quarter for Greif (NYSE:GEF)

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