Two Sigma Investments LP Reduces Position in Greif, Inc. (NYSE:GEF)

Two Sigma Investments LP trimmed its holdings in shares of Greif, Inc. (NYSE:GEF - Free Report) by 36.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,150 shares of the industrial products company's stock after selling 7,643 shares during the period. Two Sigma Investments LP's holdings in Greif were worth $804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Robertson Stephens Wealth Management LLC lifted its stake in shares of Greif by 4.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 5,541 shares of the industrial products company's stock valued at $342,000 after purchasing an additional 221 shares during the period. Principal Securities Inc. raised its position in Greif by 28.2% during the fourth quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company's stock worth $149,000 after acquiring an additional 537 shares during the period. Principal Financial Group Inc. raised its position in Greif by 0.9% during the fourth quarter. Principal Financial Group Inc. now owns 69,900 shares of the industrial products company's stock worth $4,272,000 after acquiring an additional 653 shares during the period. Truist Financial Corp raised its position in Greif by 39.4% during the fourth quarter. Truist Financial Corp now owns 13,453 shares of the industrial products company's stock worth $822,000 after acquiring an additional 3,799 shares during the period. Finally, QRG Capital Management Inc. raised its position in Greif by 5.6% during the fourth quarter. QRG Capital Management Inc. now owns 3,966 shares of the industrial products company's stock worth $242,000 after acquiring an additional 211 shares during the period. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Greif Stock Up 4.3%

Shares of GEF opened at $66.41 on Friday. The stock has a market capitalization of $3.15 billion, a PE ratio of 14.69, a P/E/G ratio of 1.02 and a beta of 0.95. Greif, Inc. has a 1 year low of $48.23 and a 1 year high of $73.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.53. The company's 50-day simple moving average is $54.19 and its 200-day simple moving average is $58.84.

Greif (NYSE:GEF - Get Free Report) last issued its earnings results on Wednesday, June 4th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.11. The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.43 billion. Greif had a net margin of 4.81% and a return on equity of 11.84%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. Analysts forecast that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.

Greif Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a $0.54 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $2.16 annualized dividend and a yield of 3.25%. Greif's dividend payout ratio is currently 60.85%.

Insider Buying and Selling at Greif

In related news, Director Frank Calhoun V. Miller purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $58.50 per share, with a total value of $58,500.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at $58,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 7.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GEF has been the subject of a number of research reports. Wells Fargo & Company dropped 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. Robert W. Baird dropped their price objective on shares of Greif from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Finally, Truist Financial decreased their target price on shares of Greif from $65.00 to $56.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Greif currently has an average rating of "Moderate Buy" and a consensus target price of $74.17.

Greif 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.

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