Greif Bros. (NYSE:GEF.B) Share Price Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Greif Bros. Corporation shares dropped below their 50-day moving average of $66.78, trading at $61.08 on Thursday.
• The company announced a quarterly dividend increase to $0.84, providing a dividend yield of 5.5%, up from the previous $0.81.
• In its recent earnings report, Greif Bros. reported earnings of $1.03 per share with a net margin of 3.52% and revenue of $1.13 billion for the quarter.

Shares of Greif Bros. Corporation (NYSE:GEF.B - Get Free Report) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $66.78 and traded as low as $60.97. Greif Bros. shares last traded at $61.08, with a volume of 12,851 shares trading hands.

Greif Bros. Trading Down 1.5%

The company has a quick ratio of 1.18, a current ratio of 1.41 and a debt-to-equity ratio of 1.00. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 18.97 and a beta of 0.89. The business has a 50 day moving average price of $66.78 and a 200-day moving average price of $63.41.

Greif Bros. (NYSE:GEF.B - Get Free Report) last posted its earnings results on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter. Greif Bros. had a return on equity of 10.09% and a net margin of 3.52%.The business had revenue of $1.13 billion during the quarter.

Greif Bros. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 16th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 5.5%. This is an increase from Greif Bros.'s previous quarterly dividend of $0.81. The ex-dividend date is Tuesday, September 16th. Greif Bros.'s payout ratio is 92.82%.

About Greif Bros.

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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