Greif, Inc. (NYSE:GEF) sees sharp drop in short-term interest

0

Greif, Inc. (NYSE: FEM – Get a rating) was the target of a significant drop in short interest in August. As of August 31, there was short interest totaling 1,050,000 shares, a decline of 13.2% from the total of 1,210,000 shares as of August 15. About 4.3% of the stock’s shares are sold short. Based on an average daily volume of 244,500 shares, the day-to-cover ratio is currently 4.3 days.

Wall Street analysts predict growth

A number of research companies have recently published reports on the FEM. Wells Fargo & Company downgraded Greif shares from an “overweight” rating to an “equally weighted” rating and reduced its price target for the company from $79.00 to $71.00 in a research note from the Tuesday, September 6. BMO Capital Markets downgraded Greif’s shares from an “underperforming” rating to a “market performing” rating and raised its price target for the company from $52.00 to $70.00 in a research note from Monday, September 5. Stifel Nicolaus began covering Greif’s actions in a research note on Friday, September 2. They issued a “buy” rating and a price target of $90.00 on the stock. To finish, StockNews.com upgraded Greif’s shares from a “buy” rating to a “strong buy” rating in a Monday, September 5 research note. One analyst rated the stock with a sell rating, two assigned a hold rating, two assigned a buy rating and one assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Insider activity

In other news, Director Mark A. Emkes sold 6,000 Greif shares in a trade dated Wednesday, June 29. The shares were sold at an average price of $62.40, for a total value of $374,400.00. Following the sale, the administrator now owns 34,326 shares of the company, valued at $2,141,942.40. The sale was disclosed in a document filed with the SEC, accessible via the SEC website. In other Greif news, director Mark A. Emkes sold 6,000 shares of Greif in a trade dated Wednesday, June 29. The shares were sold at an average price of $62.40, for a total transaction of $374,400.00. As a result of the transaction, the administrator now directly owns 34,326 shares of the company, valued at $2,141,942.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, major shareholder Nicholas Joseph Petitti sold 3,247 shares of Greif in a trade dated Wednesday, August 10. The stock was sold at an average price of $70.45, for a total transaction of $228,751.15. Following the transaction, the insider now directly owns 2,313,943 shares of the company, valued at $163,017,284.35. Disclosure of this sale can be found here. Insiders sold a total of 55,481 shares of the company worth $3,820,097 in the past 90 days. 2.59% of the shares are currently held by insiders of the company.

Greif Institutional Trading

Institutional investors have recently changed their stock portfolios. Verdence Capital Advisors LLC increased its position in Greif shares by 3.8% during the first quarter. Verdence Capital Advisors LLC now owns 5,605 shares of the industrial products company worth $365,000 after buying 203 additional shares in the last quarter. Northwest Investment Counselors LLC increased its position in Greif shares by 26.3% during the first quarter. Northwest Investment Counselors LLC now owns 1,200 shares of the industrial products company worth $78,000 after purchasing an additional 250 shares in the last quarter. Wedge Capital Management LLP NC purchased a new equity stake in Greif during Q1 worth approximately $221,000. Nordea Investment Management AB increased its position in Greif by 2.2% in the first quarter. Nordea Investment Management AB now owns 133,832 shares of the industrial products company valued at $8,694,000 after buying 2,857 additional shares in the last quarter. Finally, Hussman Strategic Advisors Inc. increased its position in Greif by 400.0% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 52,000 shares of the industrial products company valued at $3,383,000 after purchasing an additional 41,600 shares in the last quarter. Hedge funds and other institutional investors own 47.04% of the company’s shares.

Greif stock down 3.1%

Shares of GEF traded down $2.04 in Friday trading, hitting $63.87. The company’s shares had a trading volume of 695,236 shares, compared to an average volume of 262,118. The company has a debt ratio of 1.14, a current ratio of 1.48 and a quick ratio of 1, 05. The company has a market capitalization of $3.04 billion, a price/earnings ratio of 10.03, a P/E/G ratio of 0.80 and a beta of 0.93. The stock’s 50-day moving average price is $68.18 and its 200-day moving average price is $63.61. Greif has a 1-year low of $53.65 and a 1-year high of $72.79.

Greif (NYSE: FEM – Get a rating) last released its quarterly results on Wednesday, August 31. The industrial products company reported EPS of $2.35 for the quarter, beating the consensus estimate of $2.00 by $0.35. Greif had a net margin of 5.93% and a return on equity of 29.00%. The company posted revenue of $1.62 billion in the quarter, versus $1.60 billion expected by analysts. In the same quarter a year earlier, the company posted EPS of $1.93. The company’s revenue increased 8.8% year over year. On average, research analysts expect Greif to post 8.01 EPS for the current year.

Greif increases its dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1. Shareholders of record on Friday, September 16 will receive a dividend of $0.50 per share. This represents an annualized dividend of $2.00 and a yield of 3.13%. The ex-dividend date is Thursday, September 15. This is a boost from Greif’s previous quarterly dividend of $0.46. Greif’s payout ratio is 31.40%.

Greif Company Profile

(Get a rating)

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper services and packaging; and land management. 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; remanufactured and reconditioned water bottles and industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing and other packaging services for chemicals, paints and pigments, food and beverages, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral products and other industries.

See also

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

Before you consider Greif, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Greif wasn’t on the list.

While Greif currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Share.

About Author

Comments are closed.