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.
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.
ILLEGAL ACTIVITY WARNING: This piece was reported by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/04/15/pnc-financial-services-group-inc-trims-stake-in-greif-inc-gef.html.
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.
Receive News & Ratings for Greif Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greif and related companies with MarketBeat.com's FREE daily email newsletter.