Prudential Financial Inc. Lowers Stock Position in Greif, Inc. (NYSE:GEF)

Prudential Financial Inc. trimmed its position in Greif, Inc. (NYSE:GEF) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,013 shares of the industrial products company’s stock after selling 885 shares during the quarter. Prudential Financial Inc.’s holdings in Greif were worth $490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in shares of Greif by 5.6% in the fourth quarter. QRG Capital Management Inc. now owns 3,966 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 211 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in Greif by 4.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 5,541 shares of the industrial products company’s stock valued at $342,000 after acquiring an additional 221 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Greif in the fourth quarter valued at about $31,000. Principal Securities Inc. lifted its position in shares of Greif by 28.2% in the fourth quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 537 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Greif by 0.9% in the fourth quarter. Principal Financial Group Inc. now owns 69,900 shares of the industrial products company’s stock worth $4,272,000 after acquiring an additional 653 shares during the period. 45.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Greif

In related news, Director Mark A. Emkes purchased 3,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $55.89 per share, for a total transaction of $167,670.00. Following the acquisition, the director now owns 44,257 shares of the company’s stock, valued at $2,473,523.73. The trade was a 7.27 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Calhoun V. Miller acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $58.50 per share, for a total transaction of $58,500.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $58,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.60% of the company’s stock.

Greif Stock Up 6.9 %

NYSE GEF opened at $52.37 on Thursday. 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, Inc. has a 52 week low of $48.23 and a 52 week high of $73.16. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.02 and a beta of 0.91. The company has a fifty day moving average of $56.96 and a two-hundred day moving average of $61.60.

Greif (NYSE:GEF) last issued its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.33). Greif had a net margin of 4.81% and a return on equity of 11.84%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. On average, analysts predict that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a dividend of $0.54 per share. The ex-dividend date was Monday, March 17th. This represents a $2.16 annualized dividend and a yield of 4.12%. Greif’s payout ratio is currently 61.71%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Greif from $76.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Truist Financial reaffirmed a “hold” rating and set a $65.00 target price (down from $71.00) on shares of Greif in a research note on Monday, March 3rd. Robert W. Baird decreased their price target on shares of Greif from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, Bank of America cut their price objective on Greif from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Greif Company Profile

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.