Greif, Inc. Plans Quarterly Dividend of $0.44 (NYSE:GEF)

Greif, Inc. (NYSE:GEF) announced a quarterly dividend on Wednesday, June 9th, Wall Street Journal reports. Stockholders of record on Monday, June 21st will be given a dividend of 0.44 per share by the industrial products company on Thursday, July 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 18th.

Greif has increased its dividend by 4.8% over the last three years and has raised its dividend every year for the last 1 years.

Shares of GEF opened at $61.92 on Friday. Greif has a fifty-two week low of $31.14 and a fifty-two week high of $66.03. The business’s 50 day simple moving average is $61.08. The stock has a market cap of $3.01 billion, a P/E ratio of 36.86, a P/E/G ratio of 1.61 and a beta of 1.08. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.02 and a current ratio of 1.36.

Greif (NYSE:GEF) last announced its earnings results on Tuesday, June 8th. The industrial products company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.07. Greif had a net margin of 2.20% and a return on equity of 15.78%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, research analysts predict that Greif will post 3.7 earnings per share for the current year.

In other Greif news, VP Gary R. Martz sold 514 shares of the company’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $61.55, for a total transaction of $31,636.70. Following the completion of the transaction, the vice president now owns 8,100 shares in the company, valued at approximately $498,555. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gary R. Martz acquired 7,000 shares of the business’s stock in a transaction on Tuesday, April 6th. The shares were purchased at an average price of $59.18 per share, with a total value of $414,260.00. Following the transaction, the vice president now owns 70,260 shares in the company, valued at approximately $4,157,986.80. The disclosure for this purchase can be found here. 13.73% of the stock is owned by corporate insiders.

Several research analysts have commented on GEF shares. KeyCorp boosted their price target on shares of Greif from $40.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, April 5th. BMO Capital Markets boosted their price target on shares of Greif from $53.00 to $64.00 in a report on Wednesday, March 17th. Wells Fargo & Company upped their target price on shares of Greif from $68.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, May 20th. Finally, Zacks Investment Research cut shares of Greif from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Monday, May 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.40.

About Greif

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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Dividend History for Greif (NYSE:GEF)

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