Greif (NYSE:GEF) Sets New 52-Week High - Here's Why

Key Points

• Greif (NYSE:GEF) hit a new 52-week high of $77.42, showing strong recent trading momentum even though the stock finished slightly lower on the day.
• Analyst sentiment is mixed-to-negative: most firms rate the stock a Hold or lower, and MarketBeat data shows an average rating of “Reduce” with a $74.25 average price target.
• The company recently raised its quarterly dividend to $0.62 per share from $0.56, but its payout ratio is high at 95.02%, while the latest earnings missed estimates on both EPS and revenue.

Greif, Inc. (NYSE:GEF - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $77.42 and last traded at $76.41, with a volume of 13485 shares. The stock had previously closed at $76.80.

Wall Street Analyst Weigh In

GEF has been the topic of a number of research reports. Truist Financial dropped their target price on Greif from $79.00 to $78.00 and set a "hold" rating on the stock in a report on Monday, May 4th. Wells Fargo & Company raised their price target on shares of Greif from $70.00 to $74.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 15th. Weiss Ratings raised shares of Greif from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. Bank of America downgraded shares of Greif from a "neutral" rating to an "underperform" rating and set a $70.00 price objective on the stock. in a research report on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Greif from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 21st. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Greif has an average rating of "Reduce" and an average price target of $74.25.

Greif Stock Down 0.4%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.00. The business has a 50 day simple moving average of $69.07 and a 200 day simple moving average of $69.59. The stock has a market cap of $3.53 billion, a PE ratio of 29.31, a P/E/G ratio of 0.82 and a beta of 0.76.

Greif (NYSE:GEF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.06). The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.10 billion. Greif had a return on equity of 7.50% and a net margin of 7.27%.The firm's revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. On average, equities research analysts forecast that Greif, Inc. will post 3.82 EPS for the current fiscal year.

Greif Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This is a boost from Greif's previous quarterly dividend of $0.56. This represents a $2.48 annualized dividend and a yield of 3.2%. Greif's payout ratio is 95.02%.

Insider Transactions at Greif

In other Greif news, SVP Timothy Bergwall sold 2,000 shares of Greif stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $73.14, for a total value of $146,280.00. Following the completion of the sale, the senior vice president directly owned 63,832 shares in the company, valued at $4,668,672.48. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,000 shares of company stock valued at $412,120 in the last ninety days. 7.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Deprince Race & Zollo Inc. boosted its holdings in shares of Greif by 10.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 837,742 shares of the industrial products company's stock worth $56,715,000 after buying an additional 79,813 shares during the period. New Age Alpha Advisors LLC raised its holdings in Greif by 631.5% in the 4th quarter. New Age Alpha Advisors LLC now owns 26,043 shares of the industrial products company's stock worth $1,763,000 after acquiring an additional 22,483 shares during the period. Wesbanco Bank Inc. raised its holdings in Greif by 91.5% in the 4th quarter. Wesbanco Bank Inc. now owns 18,839 shares of the industrial products company's stock worth $1,275,000 after acquiring an additional 9,000 shares during the period. QRG Capital Management Inc. acquired a new position in Greif during the 1st quarter worth $480,000. Finally, EVR Research LP acquired a new position in Greif during the 4th quarter worth $11,848,000. Institutional investors own 45.74% of the company's stock.

About Greif

Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif's longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options.

The company's core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging.

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