Gamco Investors INC. ET AL lowered its position in Greif, Inc. (NYSE:GEF) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 867,846 shares of the industrial products company’s stock after selling 22,000 shares during the quarter. Gamco Investors INC. ET AL owned approximately 1.80% of Greif worth $28,248,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in Greif by 3,152.7% in the first quarter. Victory Capital Management Inc. now owns 609,681 shares of the industrial products company’s stock valued at $25,149,000 after buying an additional 590,937 shares during the last quarter. Norges Bank acquired a new stake in Greif in the fourth quarter valued at $18,997,000. Pictet Asset Management Ltd. boosted its stake in shares of Greif by 6.2% during the first quarter. Pictet Asset Management Ltd. now owns 463,929 shares of the industrial products company’s stock valued at $19,137,000 after acquiring an additional 27,036 shares during the last quarter. LSV Asset Management boosted its stake in shares of Greif by 19.5% during the first quarter. LSV Asset Management now owns 349,100 shares of the industrial products company’s stock valued at $14,400,000 after acquiring an additional 57,000 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Greif by 12.2% during the first quarter. Parametric Portfolio Associates LLC now owns 205,343 shares of the industrial products company’s stock valued at $8,470,000 after acquiring an additional 22,285 shares during the last quarter. Institutional investors own 46.44% of the company’s stock.
A number of research firms recently commented on GEF. Zacks Investment Research raised Greif from a “sell” rating to a “hold” rating and set a $37.00 price objective on the stock in a research note on Thursday, May 30th. Wells Fargo & Co set a $40.00 price objective on Greif and gave the company a “hold” rating in a research note on Friday, June 7th. Bank of America set a $37.00 price objective on Greif and gave the company a “sell” rating in a research note on Friday, June 7th. Finally, TheStreet lowered Greif from a “b-” rating to a “c+” rating in a research note on Friday, June 14th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Greif has a consensus rating of “Sell” and a consensus target price of $36.88.
Greif (NYSE:GEF) last posted its earnings results on Wednesday, June 5th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. Greif had a return on equity of 19.11% and a net margin of 3.68%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. Sell-side analysts forecast that Greif, Inc. will post 3.79 EPS for the current year.
In other Greif news, CEO Peter G. Watson acquired 15,000 shares of the stock in a transaction on Tuesday, July 2nd. The stock was purchased at an average price of $32.71 per share, for a total transaction of $490,650.00. Following the purchase, the chief executive officer now directly owns 140,011 shares in the company, valued at $4,579,759.81. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lawrence A. Hilsheimer acquired 3,450 shares of the stock in a transaction on Friday, July 5th. The shares were acquired at an average price of $33.76 per share, with a total value of $116,472.00. Following the purchase, the chief financial officer now owns 108,090 shares in the company, valued at $3,649,118.40. The disclosure for this purchase can be found here. In the last quarter, insiders bought 20,358 shares of company stock valued at $670,275. Insiders own 13.56% of the company’s stock.
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through 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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