Greif, Inc. (NYSE:GEF - Get Free Report) EVP Bala Sathyanarayanan sold 304 shares of Greif stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $69.15, for a total transaction of $21,021.60. Following the completion of the sale, the executive vice president owned 44,725 shares of the company's stock, valued at $3,092,733.75. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Greif Price Performance
Greif stock traded down $0.29 during midday trading on Wednesday, reaching $67.92. The company's stock had a trading volume of 262,260 shares, compared to its average volume of 181,943. Greif, Inc. has a fifty-two week low of $48.23 and a fifty-two week high of $73.16. The firm has a market capitalization of $3.22 billion, a PE ratio of 19.13, a P/E/G ratio of 1.73 and a beta of 0.99. The stock's 50 day simple moving average is $60.25 and its 200 day simple moving average is $58.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.96 and a current ratio of 1.27.
Greif (NYSE:GEF - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.11. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.43 billion. Greif had a return on equity of 10.21% and a net margin of 3.74%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. On average, equities research analysts forecast that Greif, Inc. will post 4.11 earnings per share for the current year.
Greif Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were issued a $0.54 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.18%. Greif's dividend payout ratio (DPR) is 60.85%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on GEF shares. Truist Financial cut their target price on shares of Greif from $65.00 to $56.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Bank of America reaffirmed a "neutral" rating and set a $77.00 price target (up previously from $71.00) on shares of Greif in a research note on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Greif from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Greif currently has an average rating of "Hold" and an average price target of $74.83.
View Our Latest Research Report on Greif
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in Greif in the 1st quarter worth about $37,000. Parallel Advisors LLC boosted its stake in Greif by 104.9% during the 1st quarter. Parallel Advisors LLC now owns 838 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 429 shares during the period. Quarry LP bought a new stake in shares of Greif in the 4th quarter worth approximately $53,000. PharVision Advisers LLC bought a new position in shares of Greif during the 4th quarter worth approximately $207,000. Finally, Nomura Holdings Inc. acquired a new stake in Greif during the 4th quarter valued at $209,000. 45.74% of the stock is currently owned by institutional investors.
About Greif
(
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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.
Further Reading
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