Denali Advisors LLC Has $6.06 Million Position in Greif, Inc. (NYSE:GEF)

Denali Advisors LLC grew its holdings in Greif, Inc. (NYSE:GEF) by 36.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,513 shares of the industrial products company’s stock after purchasing an additional 28,200 shares during the quarter. Greif comprises 1.7% of Denali Advisors LLC’s portfolio, making the stock its 17th biggest holding. Denali Advisors LLC owned approximately 0.22% of Greif worth $6,064,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Greif during the second quarter worth about $64,000. DekaBank Deutsche Girozentrale grew its position in Greif by 80.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock worth $73,000 after buying an additional 561 shares in the last quarter. nVerses Capital LLC acquired a new stake in Greif during the second quarter worth about $80,000. TFO Wealth Partners LLC grew its position in Greif by 162,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,628 shares of the industrial products company’s stock worth $107,000 after buying an additional 1,627 shares in the last quarter. Finally, Quest Partners LLC grew its position in Greif by 27,766.7% during the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock worth $96,000 after buying an additional 1,666 shares in the last quarter. 45.74% of the stock is owned by institutional investors and hedge funds.

Greif Stock Performance

NYSE:GEF opened at $61.61 on Tuesday. Greif, Inc. has a 1 year low of $55.95 and a 1 year high of $71.36. The firm has a 50 day moving average of $61.59 and a 200-day moving average of $62.60. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $2.90 billion, a P/E ratio of 13.25 and a beta of 0.91.

Greif Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.51%. This is a boost from Greif’s previous quarterly dividend of $0.52. Greif’s payout ratio is 46.45%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GEF. Bank of America decreased their target price on Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Truist Financial reissued a “hold” rating and set a $67.00 target price (down from $69.00) on shares of Greif in a research report on Friday, August 30th. Raymond James assumed coverage on Greif in a research report on Friday, July 19th. They set a “market perform” rating on the stock. Wells Fargo & Company decreased their price objective on Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, StockNews.com downgraded Greif from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Greif presently has an average rating of “Moderate Buy” and an average target price of $76.00.

Greif Profile

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. 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; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.