Teacher Retirement System of Texas Sells 6,166 Shares of Greif, Inc. (NYSE:GEF)

Teacher Retirement System of Texas cut its holdings in shares of Greif, Inc. (NYSE:GEF - Free Report) by 35.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,021 shares of the industrial products company's stock after selling 6,166 shares during the period. Teacher Retirement System of Texas' holdings in Greif were worth $606,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Greif by 104.9% in the first 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 purchased a new position in shares of Greif during the 4th quarter worth approximately $53,000. PharVision Advisers LLC purchased a new position in shares of Greif during the 4th quarter worth approximately $207,000. Nomura Holdings Inc. purchased a new position in shares of Greif during the 4th quarter worth approximately $209,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Greif during the 4th quarter worth approximately $237,000. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Greif news, EVP Gary R. Martz sold 29,000 shares of the stock in a transaction that occurred on 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 owned 68,186 shares of the company's stock, valued at approximately $4,698,015.40. This represents a 29.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kimberly Anne Kellermann sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $67.88, for a total value of $610,920.00. Following the completion of the transaction, the senior vice president directly owned 3,548 shares in the company, 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. Insiders sold a total of 94,741 shares of company stock valued at $6,448,252 over the last ninety days. 7.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price 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 reiterated a "neutral" rating and set a $77.00 price objective (up from $71.00) on shares of Greif in a research note on Wednesday, July 9th. Finally, Truist Financial decreased their price objective on shares of Greif from $65.00 to $56.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Four 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 currently has an average rating of "Hold" and an average target price of $74.83.

Greif Trading Down 0.1%

NYSE:GEF traded down $0.08 on Friday, hitting $65.81. 191,745 shares of the stock were exchanged, compared to its average volume of 178,783. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 18.54, 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. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.96 and a current ratio of 1.27. The company's 50-day moving average price is $62.27 and its 200 day moving average price is $58.78.

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

Greif Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Tuesday, June 17th. Greif's payout ratio is currently 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.