Greif, Inc. (NYSE:GEF - Get Free Report) CEO Ole Rosgaard sold 40,087 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $86.68, for a total value of $3,474,741.16. Following the sale, the chief executive officer owned 88,267 shares of the company's stock, valued at approximately $7,650,983.56. This represents a 31.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Greif Stock Performance
Greif stock opened at $89.28 on Wednesday. Greif, Inc. has a 12-month low of $55.75 and a 12-month high of $89.62. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.23. The business's 50-day moving average price is $72.73 and its two-hundred day moving average price is $70.44. The stock has a market cap of $4.12 billion, a PE ratio of 34.21, a P/E/G ratio of 0.88 and a beta of 0.75.
Greif (NYSE:GEF - Get Free Report) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.11 by $0.50. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Greif had a return on equity of 8.09% and a net margin of 7.53%.The business's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, analysts expect that Greif, Inc. will post 4.06 earnings per share for the current fiscal year.
Greif Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, June 17th. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Greif's previous quarterly dividend of $0.56. Greif's dividend payout ratio is currently 95.02%.
Institutional Investors Weigh In On Greif
Several hedge funds have recently added to or reduced their stakes in GEF. American Century Companies Inc. grew its holdings in Greif by 1.3% during the 2nd quarter. American Century Companies Inc. now owns 21,494 shares of the industrial products company's stock worth $1,397,000 after acquiring an additional 280 shares during the last quarter. Norges Bank bought a new position in shares of Greif during the second quarter valued at $1,040,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Greif during the second quarter worth $230,000. Jump Financial LLC acquired a new position in shares of Greif during the second quarter worth $609,000. Finally, Cerity Partners LLC lifted its holdings in shares of Greif by 50.3% during the second quarter. Cerity Partners LLC now owns 6,193 shares of the industrial products company's stock worth $403,000 after purchasing an additional 2,072 shares during the period. 45.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have weighed in on GEF shares. Wells Fargo & Company raised their target price on shares of Greif from $74.00 to $90.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of Greif from a "strong sell" rating to a "hold" rating in a report on Thursday, May 21st. Truist Financial reiterated a "hold" rating and set a $97.00 price target (up from $78.00) on shares of Greif in a report on Tuesday. Weiss Ratings upgraded Greif from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday. Finally, Bank of America downgraded Greif from a "neutral" rating to an "underperform" rating and set a $70.00 price objective on the stock. in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Greif currently has a consensus rating of "Hold" and an average price target of $83.00.
Get Our Latest Analysis on Greif
About Greif
(
Get Free Report)
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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