Ameriprise Financial Inc. Purchases 60,313 Shares of Greif, Inc. (NYSE:GEF)

Ameriprise Financial Inc. lifted its position in Greif, Inc. (NYSE:GEF - Free Report) by 25.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 298,237 shares of the industrial products company's stock after purchasing an additional 60,313 shares during the period. Ameriprise Financial Inc. owned about 0.63% of Greif worth $18,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its stake in shares of Greif by 27.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,887 shares of the industrial products company's stock worth $299,000 after purchasing an additional 1,053 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Greif during the fourth quarter valued at approximately $404,000. Schonfeld Strategic Advisors LLC purchased a new stake in Greif in the fourth quarter worth $747,000. Quarry LP bought a new stake in Greif in the fourth quarter valued at $53,000. Finally, Aquatic Capital Management LLC purchased a new position in Greif during the 4th quarter valued at $448,000. 45.74% of the stock is currently owned by institutional investors.

Greif Stock Performance

Shares of GEF traded down $0.73 during mid-day trading on Wednesday, hitting $55.98. 2,814 shares of the company traded hands, compared to its average volume of 170,090. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.02 and a beta of 0.94. Greif, Inc. has a 1 year low of $48.23 and a 1 year high of $73.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.53. The stock has a 50-day moving average price of $53.88 and a two-hundred day moving average price of $59.76.

Greif (NYSE:GEF - Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.33). The firm had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.26 billion. Greif had a return on equity of 11.84% and a net margin of 4.81%. Equities analysts anticipate that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.54 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.16 annualized dividend and a dividend yield of 3.86%. Greif's dividend payout ratio (DPR) is 61.71%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Greif from $76.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Robert W. Baird cut their price target on Greif from $75.00 to $68.00 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Finally, Truist Financial dropped their price target on shares of Greif from $65.00 to $56.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Greif has a consensus rating of "Moderate Buy" and an average target price of $75.50.

Insider Activity at Greif

In related news, Director Mark A. Emkes bought 3,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $55.89 per share, for a total transaction of $167,670.00. Following the completion of the transaction, the director now owns 44,257 shares in the company, valued at $2,473,523.73. The trade was a 7.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank Calhoun V. Miller purchased 1,000 shares of Greif stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $58.50 per share, for a total transaction of $58,500.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $58,500. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 7.60% of the stock is owned by company insiders.

About Greif

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.