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

Allianz Asset Management GmbH trimmed its holdings in Greif, Inc. (NYSE:GEF - Free Report) by 23.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,363 shares of the industrial products company's stock after selling 29,448 shares during the period. Allianz Asset Management GmbH owned about 0.20% of Greif worth $5,189,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Deprince Race & Zollo Inc. bought a new stake in shares of Greif in the 4th quarter valued at approximately $46,279,000. Point72 Asset Management L.P. increased its position in Greif by 7,222.6% in the fourth quarter. Point72 Asset Management L.P. now owns 233,370 shares of the industrial products company's stock worth $14,264,000 after buying an additional 230,183 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Greif in the fourth quarter worth $7,473,000. Norges Bank acquired a new stake in Greif in the fourth quarter worth $4,219,000. Finally, Ameriprise Financial Inc. increased its position in Greif by 25.3% in the fourth quarter. Ameriprise Financial Inc. now owns 298,237 shares of the industrial products company's stock worth $18,229,000 after buying an additional 60,313 shares during the period. 45.74% of the stock is owned by institutional investors and hedge funds.

Greif Trading Down 2.1%

Shares of GEF opened at $65.07 on Tuesday. The business's 50-day moving average price is $63.47 and its 200 day moving average price is $59.03. The stock has a market capitalization of $3.09 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.36 and a beta of 0.99. Greif, Inc. has a 1-year low of $48.23 and a 1-year high of $73.16. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 1.07.

Greif (NYSE:GEF - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The industrial products company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.11. Greif had a return on equity of 10.21% and a net margin of 3.74%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company posted $0.82 EPS. The business's quarterly revenue was up 1.1% compared to the same quarter last year. Analysts expect that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were given a dividend of $0.54 per share. The ex-dividend date was Tuesday, June 17th. This represents a $2.16 dividend on an annualized basis and a yield of 3.32%. Greif's payout ratio is presently 60.85%.

Insider Activity

In other Greif news, SVP Timothy Bergwall sold 2,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $68.12, for a total transaction of $136,240.00. Following the completion of the sale, the senior vice president directly owned 70,678 shares in the company, valued at approximately $4,814,585.36. This trade represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kimberly Anne Kellermann sold 9,000 shares of Greif stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $67.88, for a total value of $610,920.00. Following the sale, the senior vice president owned 3,548 shares of the company's stock, valued at approximately $240,838.24. This represents a 71.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 94,741 shares of company stock worth $6,448,252. Corporate insiders own 7.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America reissued a "neutral" rating and issued a $77.00 price target (up previously from $71.00) on shares of Greif in a research note on Wednesday, July 9th. Truist Financial decreased their price target on Greif from $65.00 to $56.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company lowered their target price on Greif from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Greif currently has an average rating of "Moderate Buy" and a consensus price target of $74.83.

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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