Greif, Inc. (NYSE:GEF) Short Interest Up 10.5% in August

Greif, Inc. (NYSE:GEF) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 593,800 shares, a growth of 10.5% from the August 15th total of 537,200 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average trading volume of 175,500 shares, the short-interest ratio is presently 3.4 days.

Greif Stock Down 0.1 %

NYSE GEF traded down $0.05 on Wednesday, reaching $61.87. The company had a trading volume of 142,505 shares, compared to its average volume of 165,307. Greif has a 52-week low of $55.95 and a 52-week high of $71.36. The company’s fifty day moving average is $61.71 and its 200 day moving average is $62.59. The stock has a market capitalization of $2.92 billion, a P/E ratio of 13.39 and a beta of 0.91. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35.

Greif Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.54 dividend. This is an increase from Greif’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, September 16th. This represents a $2.16 annualized dividend and a yield of 3.49%. Greif’s dividend payout ratio is presently 46.45%.

Hedge Funds Weigh In On Greif

Several institutional investors and hedge funds have recently bought and sold shares of the company. Verdence Capital Advisors LLC grew its holdings 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 valued at $353,000 after buying an additional 178 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Greif by 5.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,049 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 222 shares in the last quarter. Quarry LP boosted its position in shares of Greif by 71.9% during the 2nd quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 228 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Greif by 4.6% during the first quarter. ProShare Advisors LLC now owns 5,616 shares of the industrial products company’s stock worth $388,000 after purchasing an additional 246 shares in the last quarter. Finally, Cadence Wealth Management LLC increased its position in shares of Greif by 11.1% in the second quarter. Cadence Wealth Management LLC now owns 4,460 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 444 shares during the last quarter. 45.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial reiterated a “hold” rating and set a $67.00 price objective (down previously from $69.00) on shares of Greif in a report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $88.00 price target on shares of Greif in a report on Monday, August 26th. Wells Fargo & Company decreased their price objective on Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Bank of America cut their target price on Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Raymond James started coverage on shares of Greif in a research note on Friday, July 19th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Greif 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.