Wellington Management Group LLP Sells 15,505 Shares of Greif, Inc. (NYSE:GEF)

Wellington Management Group LLP trimmed its holdings in shares of Greif, Inc. (NYSE:GEF - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,788 shares of the industrial products company's stock after selling 15,505 shares during the quarter. Wellington Management Group LLP owned about 0.45% of Greif worth $13,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Greif during the fourth quarter worth approximately $53,000. Principal Securities Inc. raised its stake in Greif by 28.2% in the fourth quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company's stock worth $149,000 after buying an additional 537 shares in the last quarter. PharVision Advisers LLC bought a new position in Greif in the fourth quarter worth about $207,000. Nomura Holdings Inc. purchased a new stake in Greif in the fourth quarter worth about $209,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Greif during the 4th quarter valued at approximately $237,000. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

Greif Stock Performance

Shares of NYSE GEF traded down $0.59 during midday trading on Wednesday, hitting $55.17. 153,101 shares of the company's stock traded hands, compared to its average volume of 170,788. The firm has a fifty day moving average of $53.78 and a 200 day moving average of $58.97. 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 stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94.

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 the consensus estimate of $1.08 by $0.11. Greif had a net margin of 4.81% and a return on equity of 11.84%. On average, analysts forecast that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Announces Dividend

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 issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Tuesday, June 17th. Greif's dividend payout ratio is presently 61.71%.

Insider Buying and Selling at Greif

In other news, Director Mark A. Emkes purchased 3,000 shares of the company's stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $55.89 per share, for a total transaction of $167,670.00. Following the completion of the transaction, the director now directly owns 44,257 shares in the company, valued at $2,473,523.73. This trade represents a 7.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank Calhoun V. Miller acquired 1,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $58.50 per share, for a total transaction of $58,500.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $58,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial decreased their price objective on Greif from $65.00 to $56.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird lowered their price objective on Greif from $75.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company cut their target price on Greif from $75.00 to $67.00 and set an "overweight" rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $74.17.

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.