Greif, Inc. (NYSE:GEF) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its position in Greif, Inc. (NYSE:GEF - Free Report) by 23.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,363 shares of the industrial products company's stock after selling 29,448 shares during the quarter. Allianz Asset Management GmbH owned 0.20% of Greif worth $5,189,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Deprince Race & Zollo Inc. bought a new stake in Greif during the 4th quarter valued at about $46,279,000. Systematic Financial Management LP raised its holdings in shares of Greif by 2.5% in the 4th quarter. Systematic Financial Management LP now owns 310,236 shares of the industrial products company's stock valued at $18,962,000 after purchasing an additional 7,684 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Greif by 25.3% in the 4th quarter. Ameriprise Financial Inc. now owns 298,237 shares of the industrial products company's stock valued at $18,229,000 after purchasing an additional 60,313 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Greif by 7,222.6% in the 4th quarter. Point72 Asset Management L.P. now owns 233,370 shares of the industrial products company's stock valued at $14,264,000 after purchasing an additional 230,183 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Greif by 23.7% in the 1st quarter. Victory Capital Management Inc. now owns 212,888 shares of the industrial products company's stock valued at $11,707,000 after purchasing an additional 40,813 shares in the last quarter. Institutional investors own 45.74% of the company's stock.

Insiders Place Their Bets

In other Greif news, EVP Gary R. Martz sold 29,000 shares of Greif stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $68.90, for a total transaction of $1,998,100.00. Following the completion of the sale, the executive vice president directly owned 68,186 shares in the company, valued at $4,698,015.40. This trade represents a 29.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ole G. Rosgaard sold 2,200 shares of Greif stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $70.00, for a total transaction of $154,000.00. Following the sale, the chief executive officer owned 74,027 shares of the company's stock, valued at approximately $5,181,890. This represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,741 shares of company stock worth $6,448,252. 7.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Greif Price Performance

Shares of NYSE GEF traded down $1.17 during mid-day trading on Friday, reaching $62.26. The company's stock had a trading volume of 43,216 shares, compared to its average volume of 181,737. The stock has a 50-day moving average of $63.96 and a two-hundred day moving average of $59.14. The stock has a market capitalization of $2.96 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.30 and a beta of 0.99. 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, Inc. has a 1-year low of $48.23 and a 1-year high of $73.16.

Greif (NYSE:GEF - Get Free Report) last issued its earnings results on Wednesday, June 4th. The industrial products company reported $1.19 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 net margin of 3.74% and a return on equity of 10.21%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. On average, equities research analysts anticipate that Greif, Inc. will post 4.11 EPS for the current fiscal year.

Greif Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were paid a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $2.16 annualized dividend and a dividend yield of 3.5%. Greif's dividend payout ratio is 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.