Louisiana State Employees Retirement System acquired a new stake in Greif, Inc. (NYSE:GEF – Free Report) during the 1st quarter, HoldingsChannel reports. The firm acquired 7,200 shares of the industrial products company’s stock, valued at approximately $483,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GEF. Caitong International Asset Management Co. Ltd boosted its stake in shares of Greif by 106.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 616 shares of the industrial products company’s stock valued at $42,000 after buying an additional 317 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Greif by 33.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 689 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 172 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Greif in the fourth quarter worth $84,000. Simplex Trading LLC raised its holdings in shares of Greif by 399.5% during the fourth quarter. Simplex Trading LLC now owns 1,853 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Man Group plc purchased a new stake in shares of Greif during the fourth quarter worth $201,000. Hedge funds and other institutional investors own 45.74% of the company’s stock.
Insider Buying and Selling at Greif
In other news, SVP Timothy Bergwall sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $65.26, for a total transaction of $130,520.00. Following the completion of the sale, the senior vice president owned 65,832 shares in the company, valued at approximately $4,296,196.32. This represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,000 shares of company stock valued at $406,680 over the last ninety days. 7.70% of the stock is owned by insiders.
Greif Stock Performance
Greif (NYSE:GEF – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.06). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. Greif had a net margin of 7.27% and a return on equity of 7.50%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. Equities analysts expect that Greif, Inc. will post 3.87 EPS for the current fiscal year.
Greif Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were given a $0.62 dividend. This is an increase from Greif’s previous quarterly dividend of $0.56. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Greif’s payout ratio is presently 95.02%.
Analysts Set New Price Targets
GEF has been the topic of a number of recent research reports. Zacks Research upgraded Greif from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 21st. Weiss Ratings raised Greif from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Truist Financial cut their price target on Greif from $79.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Finally, Wells Fargo & Company reduced their price target on Greif from $76.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 20th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Greif currently has a consensus rating of “Hold” and an average target price of $73.50.
Get Our Latest Stock Analysis on GEF
About Greif
Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif’s longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options.
The company’s core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging.
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