Public Employees Retirement System of Ohio Has $73,000 Holdings in Greif, Inc. $GEF

Public Employees Retirement System of Ohio cut its holdings in shares of Greif, Inc. (NYSE:GEF) by 66.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,123 shares of the industrial products company’s stock after selling 2,248 shares during the period. Public Employees Retirement System of Ohio’s holdings in Greif were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in shares of Greif in the 1st quarter valued at approximately $37,000. Park Avenue Securities LLC raised its position in shares of Greif by 13.3% in the 1st quarter. Park Avenue Securities LLC now owns 5,815 shares of the industrial products company’s stock valued at $320,000 after acquiring an additional 682 shares during the period. Benjamin Edwards Inc. raised its position in shares of Greif by 4.3% in the 1st quarter. Benjamin Edwards Inc. now owns 7,459 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 308 shares during the period. Cetera Investment Advisers raised its position in shares of Greif by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 10,280 shares of the industrial products company’s stock valued at $565,000 after acquiring an additional 596 shares during the period. Finally, OneAscent Financial Services LLC acquired a new stake in shares of Greif in the 1st quarter valued at approximately $608,000. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Greif

In related news, SVP Timothy Bergwall sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $60.55, for a total value of $121,100.00. Following the completion of the transaction, the senior vice president directly owned 66,678 shares of the company’s stock, valued at approximately $4,037,352.90. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.60% of the stock is owned by corporate insiders.

Greif Price Performance

Shares of GEF opened at $59.80 on Wednesday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.65 and a beta of 1.00. Greif, Inc. has a twelve month low of $48.23 and a twelve month high of $73.16. The company has a 50 day moving average of $63.15 and a 200-day moving average of $60.40. The company has a quick ratio of 1.18, a current ratio of 1.41 and a debt-to-equity ratio of 1.00.

Greif (NYSE:GEF) last issued its quarterly earnings results on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.22. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $740.23 million. Greif had a net margin of 3.52% and a return on equity of 10.09%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. As a group, equities research analysts forecast that Greif, Inc. will post 4.11 EPS for the current fiscal year.

Greif Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 16th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $2.24 annualized dividend and a dividend yield of 3.7%. This is an increase from Greif’s previous quarterly dividend of $0.54. Greif’s dividend payout ratio (DPR) is 71.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Greif in a research report on Saturday, September 27th. Truist Financial lowered their target price on Greif from $72.00 to $71.00 and set a “hold” rating for the company in a research note on Monday, September 8th. Wells Fargo & Company increased their target price on Greif from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Zacks Research cut Greif from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 9th. Finally, Bank of America lowered their target price on Greif from $77.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.80.

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.