Canada Pension Plan Investment Board Purchases New Shares in Greif, Inc. (NYSE:GEF)

Canada Pension Plan Investment Board bought a new position in shares of Greif, Inc. (NYSE:GEF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,300 shares of the industrial products company's stock, valued at approximately $1,180,000.

A number of other large investors have also made changes to their positions in GEF. QRG Capital Management Inc. grew its position in Greif by 5.6% in the fourth quarter. QRG Capital Management Inc. now owns 3,966 shares of the industrial products company's stock worth $242,000 after acquiring an additional 211 shares during the period. Robertson Stephens Wealth Management LLC increased its position in shares of Greif by 4.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 5,541 shares of the industrial products company's stock worth $342,000 after purchasing an additional 221 shares during the last quarter. Bank of Montreal Can raised its holdings in Greif by 7.8% in the 4th quarter. Bank of Montreal Can now owns 6,013 shares of the industrial products company's stock valued at $368,000 after buying an additional 433 shares during the period. Avior Wealth Management LLC acquired a new position in Greif in the fourth quarter valued at about $31,000. Finally, Principal Securities Inc. boosted its stake in Greif by 28.2% during the fourth quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company's stock worth $149,000 after buying an additional 537 shares during the period. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

Greif Stock Down 2.2 %

NYSE GEF traded down $1.17 during trading hours on Wednesday, hitting $52.47. 148,768 shares of the company were exchanged, compared to its average volume of 170,351. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 1.26. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.02 and a beta of 0.91. The company has a 50 day moving average of $54.30 and a two-hundred day moving average of $60.59. Greif, Inc. has a 52-week low of $48.23 and a 52-week high of $73.16.

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

Greif Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, March 17th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.12%. Greif's payout ratio is currently 61.71%.

Insider Activity at Greif

In related news, VP David C. Lloyd sold 2,263 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $55.24, for a total value of $125,008.12. Following the transaction, the vice president now directly owns 7,580 shares of the company's stock, valued at $418,719.20. This trade represents a 22.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Calhoun V. Miller purchased 1,000 shares of Greif stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $58.50 per share, with a total value of $58,500.00. Following the completion of the transaction, the director now owns 1,000 shares of the company's stock, valued at $58,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEF. Wells Fargo & Company lowered their price objective on shares of Greif from $76.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Truist Financial cut their price objective on Greif from $65.00 to $56.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird lowered their target price on Greif from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Finally, Bank of America cut their price target on shares of Greif from $79.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.50.

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.