Investment Counselors of Maryland LLC Raises Stake in Greif, Inc. (GEF)

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Investment Counselors of Maryland LLC lifted its position in Greif, Inc. (NYSE:GEF) by 27.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 410,559 shares of the industrial products company’s stock after purchasing an additional 87,942 shares during the quarter. Investment Counselors of Maryland LLC’s holdings in Greif were worth $22,031,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GEF. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Greif during the second quarter worth approximately $370,000. Cubist Systematic Strategies LLC grew its position in Greif by 956.5% in the second quarter. Cubist Systematic Strategies LLC now owns 7,987 shares of the industrial products company’s stock valued at $422,000 after acquiring an additional 7,231 shares during the last quarter. LSV Asset Management grew its position in Greif by 4.4% in the second quarter. LSV Asset Management now owns 74,300 shares of the industrial products company’s stock valued at $3,929,000 after acquiring an additional 3,100 shares during the last quarter. GSA Capital Partners LLP grew its position in Greif by 21.8% in the second quarter. GSA Capital Partners LLP now owns 31,209 shares of the industrial products company’s stock valued at $1,651,000 after acquiring an additional 5,595 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in Greif by 966.6% in the second quarter. Federated Investors Inc. PA now owns 144,765 shares of the industrial products company’s stock valued at $7,656,000 after acquiring an additional 131,192 shares during the last quarter. 47.95% of the stock is currently owned by hedge funds and other institutional investors.

Greif stock opened at $48.75 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.36 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.46 and a beta of 1.28. Greif, Inc. has a one year low of $44.66 and a one year high of $65.60.

Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, August 29th. The industrial products company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.04 billion. Greif had a return on equity of 18.10% and a net margin of 5.26%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities analysts predict that Greif, Inc. will post 3.6 earnings per share for the current fiscal year.

A number of brokerages have recently commented on GEF. KeyCorp reissued a “sell” rating and set a $50.00 price target on shares of Greif in a research note on Thursday, August 30th. Bank of America lowered Greif from a “neutral” rating to an “underperform” rating and set a $55.00 price target on the stock. in a research note on Monday, July 16th. Zacks Investment Research lowered Greif from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, Wells Fargo & Co set a $65.00 price target on Greif and gave the company a “buy” rating in a research note on Thursday, October 18th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Greif presently has a consensus rating of “Hold” and an average target price of $62.43.

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Greif Company Profile

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates in 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.

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Institutional Ownership by Quarter for Greif (NYSE:GEF)

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