Key Points
- Insider buy: Greif CFO Lawrence Hilsheimer bought 8,342 shares on November 13 at an average price of $67.90, spending $566,421.80 and increasing his stake to 196,444 shares (a 4.43% ownership rise).
- Dividend and valuation: Greif raised its quarterly dividend to $0.56 (annualized $2.24) for a 3.7% yield and 71.1% payout ratio, while the stock trades near $60.40 with a market cap of $2.87B and a P/E of about 19.2.
- Results and analyst view: The company beat recent quarterly EPS estimates with $1.03 and reported $1.13B revenue (down 2.6% YoY), and analysts predominantly rate the stock a "Hold" with an average target of $74.20.
Greif, Inc. (NYSE:GEF - Get Free Report) CFO Lawrence Hilsheimer acquired 8,342 shares of the business's stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $67.90 per share, for a total transaction of $566,421.80. Following the completion of the acquisition, the chief financial officer owned 196,444 shares of the company's stock, valued at $13,338,547.60. This trade represents a 4.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Greif Stock Down 1.1%
Greif stock opened at $60.40 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.41 and a debt-to-equity ratio of 1.00. The firm has a market cap of $2.87 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.24 and a beta of 1.04. The business has a fifty day moving average of $59.43 and a two-hundred day moving average of $61.75. Greif, Inc. has a twelve month low of $48.23 and a twelve month high of $73.16.
Greif (NYSE:GEF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.22. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $740.23 million. Greif had a return on equity of 10.09% and a net margin of 3.52%.The business's revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. On average, analysts forecast that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.
Greif Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 16th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This is a positive change from Greif's previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a dividend yield of 3.7%. Greif's payout ratio is currently 71.11%.
Institutional Trading of Greif
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Greif by 36.2% in the third quarter. Blue Trust Inc. now owns 662 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 176 shares during the period. Summit Securities Group LLC purchased a new stake in Greif in the first quarter valued at approximately $37,000. State Board of Administration of Florida Retirement System acquired a new position in Greif in the 2nd quarter worth approximately $214,000. Neuberger Berman Group LLC purchased a new position in Greif during the 2nd quarter worth approximately $216,000. Finally, Captrust Financial Advisors purchased a new position in Greif during the 2nd quarter worth approximately $227,000. Institutional investors and hedge funds own 45.74% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on GEF. Bank of America cut their price objective on shares of Greif from $77.00 to $71.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Greif in a research report on Wednesday, October 8th. Zacks Research raised Greif from a "strong sell" rating to a "hold" rating in a research report on Thursday, October 23rd. Truist Financial dropped their target price on Greif from $72.00 to $71.00 and set a "hold" rating on the stock in a research note on Monday, September 8th. Finally, Wells Fargo & Company increased their price target on Greif from $67.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $74.20.
Read Our Latest Report on Greif
About Greif
(
Get Free Report)
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.
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