PNC Financial Services Group Inc. Decreases Position in Greif, Inc. (NYSE:GEF)

PNC Financial Services Group Inc. reduced its stake in shares of Greif, Inc. (NYSE:GEF) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,545 shares of the industrial products company’s stock after selling 620 shares during the period. PNC Financial Services Group Inc.’s holdings in Greif were worth $169,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GEF. Investors Research Corp boosted its stake in Greif by 1.8% during the 4th quarter. Investors Research Corp now owns 16,950 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 300 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in Greif by 13.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 6,378 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 746 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Greif by 13.1% during the 3rd quarter. Pacer Advisors Inc. now owns 8,880 shares of the industrial products company’s stock valued at $477,000 after purchasing an additional 1,031 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in Greif by 191.1% during the 3rd quarter. Point72 Hong Kong Ltd now owns 2,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,313 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Greif by 9.1% during the 4th quarter. Victory Capital Management Inc. now owns 18,744 shares of the industrial products company’s stock valued at $696,000 after purchasing an additional 1,566 shares during the last quarter. 48.22% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:GEF traded down $1.25 during mid-day trading on Monday, reaching $39.79. The company had a trading volume of 95,819 shares, compared to its average volume of 244,631. The company has a current ratio of 1.83, a quick ratio of 1.29 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $1.97 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55. Greif, Inc. has a one year low of $31.80 and a one year high of $62.75.

Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, February 27th. The industrial products company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $897.00 million for the quarter, compared to analysts’ expectations of $922.24 million. Greif had a net margin of 4.72% and a return on equity of 18.89%. Greif’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. Research analysts predict that Greif, Inc. will post 3.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.76 dividend on an annualized basis and a yield of 4.42%. Greif’s payout ratio is 49.86%.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Greif from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. ValuEngine downgraded Greif from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 26th. Robert W. Baird cut their target price on Greif from $55.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, December 21st. Wells Fargo & Co downgraded Greif from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $53.00 to $36.00 in a research note on Thursday, December 20th. Finally, BMO Capital Markets downgraded Greif from an “outperform” rating to an “underperform” rating and set a $34.25 target price on the stock. in a research note on Thursday, December 20th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company currently has an average rating of “Sell” and a consensus price target of $40.38.

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Greif Company Profile

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.

Read More: Why is the ex-dividend date different from the record date?

Institutional Ownership by Quarter for Greif (NYSE:GEF)

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