Greif (NYSE:GEF) Shares Gap Up After Earnings Beat

Shares of Greif, Inc. (NYSE:GEF - Get Free Report) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $55.07, but opened at $60.40. Greif shares last traded at $61.14, with a volume of 119,624 shares traded.

The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.11. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.43 billion. Greif had a return on equity of 11.84% and a net margin of 4.81%. The business's revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS.

Greif Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, June 17th. Greif's dividend payout ratio (DPR) is 61.71%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Greif

In other news, Director Frank Calhoun V. Miller acquired 1,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $58.50 per share, with a total value of $58,500.00. Following the purchase, the director now owns 1,000 shares of the company's stock, valued at approximately $58,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.60% of the stock is owned by company insiders.

Institutional Trading of Greif

A number of hedge funds and other institutional investors have recently modified their holdings of GEF. Summit Securities Group LLC bought a new stake in shares of Greif in the 1st quarter worth $37,000. Parallel Advisors LLC raised its stake in shares of Greif by 104.9% in the 1st quarter. Parallel Advisors LLC now owns 838 shares of the industrial products company's stock worth $46,000 after buying an additional 429 shares in the last quarter. Quarry LP bought a new stake in shares of Greif in the 4th quarter worth $53,000. Principal Securities Inc. raised its stake in shares of Greif by 28.2% in the 4th 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. Finally, PharVision Advisers LLC bought a new stake in shares of Greif in the 4th quarter worth $207,000. Institutional investors own 45.74% of the company's stock.

Greif Stock Up 15.7%

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 50 day moving average price of $53.96 and a 200 day moving average price of $58.92. The company has a market cap of $3.02 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.02 and a beta of 0.94.

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.