Denali Advisors LLC Acquires 9,946 Shares of Greif, Inc. (NYSE:GEF)

Denali Advisors LLC lifted its position in shares of Greif, Inc. (NYSE:GEF - Free Report) by 9.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,167 shares of the industrial products company's stock after purchasing an additional 9,946 shares during the period. Denali Advisors LLC owned 0.24% of Greif worth $6,333,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GEF. Parallel Advisors LLC boosted its holdings in Greif by 104.9% in 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 acquired a new position in Greif in the 4th quarter valued at approximately $53,000. PharVision Advisers LLC acquired a new position in Greif in the 4th quarter valued at approximately $207,000. Nomura Holdings Inc. acquired a new position in Greif in the 4th quarter valued at approximately $209,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Greif in the 4th quarter valued at approximately $237,000. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Greif from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Tuesday, June 3rd. Bank of America reissued a "neutral" rating and set a $77.00 target price (up from $71.00) on shares of Greif in a research note on Wednesday, July 9th. Finally, Truist Financial dropped their price objective 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $74.83.

Insider Transactions at Greif

In other Greif news, CEO Ole G. Rosgaard sold 30,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $65.75, for a total transaction of $1,972,500.00. Following the completion of the sale, the chief executive officer directly owned 97,464 shares of the company's stock, valued at $6,408,258. This trade represents a 23.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kimberly Anne Kellermann sold 9,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $67.88, for a total transaction of $610,920.00. Following the completion of the transaction, the senior vice president directly owned 3,548 shares of the company's stock, valued at approximately $240,838.24. This trade represents a 71.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,741 shares of company stock worth $6,448,252. 7.60% of the stock is currently owned by corporate insiders.

Greif Trading Up 2.1%

Greif stock traded up $1.40 during mid-day trading on Tuesday, reaching $67.17. 168,869 shares of the company traded hands, compared to its average volume of 178,748. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.27 and a quick ratio of 0.96. The firm's 50 day moving average price is $62.27 and its 200 day moving average price is $58.75. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.35 and a beta of 0.99. 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 announced its quarterly earnings data on Wednesday, June 4th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.11. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, analysts anticipate that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.

Greif Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Tuesday, June 17th. Greif's dividend payout ratio (DPR) is presently 60.85%.

Greif Company 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.