Envestnet Portfolio Solutions Inc. Has $745,000 Holdings in Greif, Inc. $GEF

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in Greif, Inc. by 147.5%, owning 11,470 shares valued at $745,000 as of its latest SEC filing.
• Greif recently posted $1.03 EPS for the quarter, exceeding analysts' expectations of $0.81, despite a 2.6% year-over-year revenue decline.
• The company declared an increase in its quarterly dividend from $0.54 to $0.56 per share, which equates to an annualized yield of 3.8%.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Greif, Inc. (NYSE:GEF - Free Report) by 147.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,470 shares of the industrial products company's stock after buying an additional 6,835 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Greif were worth $745,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. QRG Capital Management Inc. raised its stake in Greif by 84.9% during the 2nd quarter. QRG Capital Management Inc. now owns 7,002 shares of the industrial products company's stock worth $455,000 after buying an additional 3,215 shares during the period. Twelve Points Wealth Management LLC increased its holdings in Greif by 9.8% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 37,869 shares of the industrial products company's stock worth $2,461,000 after purchasing an additional 3,365 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Greif by 17.0% during the 2nd quarter. Park Avenue Securities LLC now owns 6,803 shares of the industrial products company's stock worth $442,000 after purchasing an additional 988 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Greif during the 1st quarter worth about $654,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Greif during the 1st quarter worth about $3,193,000. Institutional investors and hedge funds own 45.74% of the company's stock.

Greif Price Performance

Shares of NYSE GEF opened at $59.35 on Tuesday. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.23 and a beta of 1.00. The business has a 50-day moving average of $62.13 and a 200-day moving average of $60.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.41 and a quick ratio of 1.18. Greif, Inc. has a fifty-two week low of $48.23 and a fifty-two week high of $73.16.

Greif (NYSE:GEF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The industrial products company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.22. Greif had a return on equity of 10.09% and a net margin of 3.52%.The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $740.23 million. During the same quarter last year, the company posted $1.03 earnings per share. Greif's quarterly revenue was down 2.6% on a year-over-year basis. As a group, sell-side analysts predict that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.

Greif Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 16th were issued a dividend of $0.56 per share. The ex-dividend date was Tuesday, September 16th. This is an increase from Greif's previous quarterly dividend of $0.54. This represents a $2.24 dividend on an annualized basis and a yield of 3.8%. Greif's dividend payout ratio is 71.11%.

Insider Transactions at Greif

In other Greif news, SVP Timothy Bergwall sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $60.55, for a total transaction of $121,100.00. Following the completion of the sale, the senior vice president directly owned 66,678 shares in the company, valued at $4,037,352.90. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GEF shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Greif in a report on Wednesday, October 8th. Zacks Research cut Greif from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 9th. Wells Fargo & Company lowered their target price on Greif from $76.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, October 15th. Bank of America lowered their target price on Greif from $77.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, September 2nd. Finally, Truist Financial lowered their target price on Greif from $72.00 to $71.00 and set a "hold" rating for the company in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $74.00.

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.

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