LSV Asset Management Sells 49,500 Shares of Greif, Inc. (NYSE:GEF)

LSV Asset Management lowered its position in shares of Greif, Inc. (NYSE:GEF) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,067,471 shares of the industrial products company’s stock after selling 49,500 shares during the period. LSV Asset Management owned 2.28% of Greif worth $70,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Verdence Capital Advisors LLC increased its holdings in shares of Greif by 4.7% in the third quarter. Verdence Capital Advisors LLC now owns 4,921 shares of the industrial products company’s stock worth $329,000 after purchasing an additional 223 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Greif by 58.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,693 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 2,851 shares in the last quarter. Meritage Portfolio Management boosted its position in shares of Greif by 5.3% during the 3rd quarter. Meritage Portfolio Management now owns 3,423 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 173 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Greif by 140.5% during the third quarter. Teacher Retirement System of Texas now owns 18,226 shares of the industrial products company’s stock worth $1,218,000 after purchasing an additional 10,649 shares in the last quarter. Finally, Investors Research Corp increased its position in shares of Greif by 2.3% in the third quarter. Investors Research Corp now owns 11,150 shares of the industrial products company’s stock worth $745,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 45.74% of the company’s stock.

Greif Price Performance

Shares of GEF stock traded up $0.62 during trading hours on Friday, hitting $62.90. 114,114 shares of the company’s stock were exchanged, compared to its average volume of 181,280. The company has a market capitalization of $2.96 billion, a PE ratio of 10.88, a PEG ratio of 1.57 and a beta of 0.91. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 1.09. Greif, Inc. has a 12-month low of $59.37 and a 12-month high of $76.00. The business’s 50 day simple moving average is $64.13 and its 200-day simple moving average is $64.59.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, February 28th. The industrial products company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $1.07. Greif had a net margin of 6.53% and a return on equity of 18.65%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $1.06 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Greif, Inc. will post 4 earnings per share for the current year.

Greif Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were given a dividend of $0.52 per share. The ex-dividend date was Friday, March 15th. This represents a $2.08 annualized dividend and a yield of 3.31%. Greif’s payout ratio is 35.99%.

Analysts Set New Price Targets

A number of research firms have commented on GEF. Wells Fargo & Company raised shares of Greif from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $64.00 to $75.00 in a research note on Thursday, January 11th. Truist Financial assumed coverage on shares of Greif in a research report on Thursday, April 18th. They issued a “hold” rating and a $71.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Greif has a consensus rating of “Moderate Buy” and an average price target of $77.25.

Insider Buying and Selling at Greif

In other news, Treasurer Anthony John Krabill bought 745 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average price of $63.12 per share, for a total transaction of $47,024.40. Following the completion of the acquisition, the treasurer now owns 1,651 shares of the company’s stock, valued at $104,211.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Greif news, CEO Ole G. Rosgaard purchased 4,705 shares of Greif stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $67.00 per share, for a total transaction of $315,235.00. Following the acquisition, the chief executive officer now directly owns 4,705 shares in the company, valued at $315,235. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Treasurer Anthony John Krabill acquired 745 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average price of $63.12 per share, with a total value of $47,024.40. Following the acquisition, the treasurer now owns 1,651 shares in the company, valued at approximately $104,211.12. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 42,934 shares of company stock worth $2,864,352 and sold 6,000 shares worth $384,620. Corporate insiders own 3.07% of the company’s stock.

Greif 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.