Greif, Inc. (NYSE:GEF) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Wednesday, March 18th will be given a dividend of 0.44 per share by the industrial products company on Wednesday, April 1st. This represents a $1.76 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Tuesday, March 17th.
Greif has increased its dividend payment by an average of 1.6% per year over the last three years and has raised its dividend every year for the last 2 years. Greif has a payout ratio of 46.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Greif to earn $3.79 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 46.4%.
Shares of NYSE GEF traded down $0.59 during mid-day trading on Wednesday, hitting $36.83. 443,000 shares of the stock traded hands, compared to its average volume of 182,526. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.08 and a current ratio of 1.51. Greif has a 52 week low of $29.85 and a 52 week high of $50.37. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.30 and a beta of 1.35. The stock has a fifty day moving average price of $42.67 and a 200-day moving average price of $40.20.
A number of brokerages have issued reports on GEF. Zacks Investment Research upgraded Greif from a “sell” rating to a “hold” rating and set a $49.00 price objective for the company in a research note on Friday, January 17th. Robert W. Baird lifted their price objective on Greif from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. BMO Capital Markets lifted their price objective on Greif from $28.00 to $36.00 and gave the company an “underperform” rating in a research note on Thursday, December 12th. Wells Fargo & Co upgraded Greif from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $46.00 to $52.00 in a research note on Tuesday, January 14th. Finally, ValuEngine upgraded Greif from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $41.83.
In other Greif news, CFO Lawrence A. Hilsheimer purchased 3,863 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average price of $44.86 per share, for a total transaction of $173,294.18. Following the completion of the purchase, the chief financial officer now directly owns 104,445 shares of the company’s stock, valued at $4,685,402.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.57% of the stock is owned by insiders.
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.
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