Dark Forest Capital Management LP Acquires 2,446 Shares of Greif, Inc. (NYSE:GEF)

Dark Forest Capital Management LP lifted its holdings in shares of Greif, Inc. (NYSE:GEF) by 21.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,737 shares of the industrial products company’s stock after purchasing an additional 2,446 shares during the period. Dark Forest Capital Management LP’s holdings in Greif were worth $789,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Verdence Capital Advisors LLC raised its position in Greif by 3.6% during the 1st quarter. Verdence Capital Advisors LLC now owns 5,109 shares of the industrial products company’s stock worth $353,000 after purchasing an additional 178 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Greif by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,049 shares of the industrial products company’s stock worth $233,000 after acquiring an additional 222 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Greif by 4.6% in the first quarter. ProShare Advisors LLC now owns 5,616 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 246 shares during the period. Cadence Wealth Management LLC boosted its holdings in Greif by 11.1% in the second quarter. Cadence Wealth Management LLC now owns 4,460 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 444 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Greif by 80.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 561 shares during the last quarter. Institutional investors own 45.74% of the company’s stock.

Greif Trading Up 2.0 %

NYSE:GEF opened at $62.89 on Friday. The firm has a fifty day simple moving average of $61.91 and a two-hundred day simple moving average of $62.56. Greif, Inc. has a 12 month low of $55.95 and a 12 month high of $71.36. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 13.52 and a beta of 0.91. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.35.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, August 28th. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.14). Greif had a net margin of 4.99% and a return on equity of 13.28%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Analysts expect that Greif, Inc. will post 4.2 EPS for the current fiscal year.

Greif Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.54 per share. This is an increase from Greif’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.16 annualized dividend and a dividend yield of 3.43%. Greif’s payout ratio is currently 46.45%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GEF shares. Raymond James initiated coverage on shares of Greif in a research report on Friday, July 19th. They issued a “market perform” rating on the stock. Stifel Nicolaus restated a “buy” rating and issued a $88.00 target price on shares of Greif in a report on Monday, August 26th. Truist Financial reaffirmed a “hold” rating and set a $67.00 price target (down previously from $69.00) on shares of Greif in a research report on Friday, August 30th. Bank of America lowered their price objective on Greif from $77.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Wells Fargo & Company cut their target price on Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

About Greif

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.