Greif, Inc. (NYSE:GEF) Plans Quarterly Dividend of $0.54

Greif, Inc. (NYSE:GEF - Get Free Report) declared a quarterly dividend on Wednesday, June 4th, Wall Street Journal reports. Investors of record on Tuesday, June 17th will be paid a dividend of 0.54 per share by the industrial products company on Tuesday, July 1st. This represents a $2.16 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, June 17th.

Greif has increased its dividend payment by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Greif has a payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Greif to earn $5.22 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 41.4%.

Greif Trading Up 14.5%

NYSE:GEF traded up $7.99 during trading hours on Thursday, reaching $63.06. 362,807 shares of the stock were exchanged, compared to its average volume of 171,969. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.02 and a beta of 0.94. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 1.26. Greif has a twelve month low of $48.23 and a twelve month high of $73.16. The business has a 50-day moving average of $53.79 and a two-hundred day moving average of $58.94.

Greif (NYSE:GEF - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The industrial products company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.11. Greif had a return on equity of 11.84% and a net margin of 4.81%. The company had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period last year, the firm earned $0.82 earnings per share. Greif's quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that Greif will post 4.11 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on GEF. Robert W. Baird decreased their price target on shares of Greif from $75.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company lowered their price target on Greif from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Truist Financial lowered their price target on Greif from $65.00 to $56.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Greif presently has an average rating of "Moderate Buy" and an average target price of $74.17.

Insider Buying and Selling

In other Greif news, Director Frank Calhoun V. Miller purchased 1,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $58.50 per share, for a total transaction of $58,500.00. Following the acquisition, the director now owns 1,000 shares of the company's stock, valued at approximately $58,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.60% of the company's stock.

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.