Greif (NYSE:GEF) SVP Timothy Bergwall Sells 2,000 Shares

Key Points

• Timothy Bergwall, Senior Vice President of Greif, Inc., sold 2,000 shares at an average price of $60.55, resulting in a 2.91% decrease in his overall position.
• Greif, Inc. recently reported quarterly earnings of $1.03 per share, surpassing analyst expectations, despite a 2.6% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.56, representing a slight increase from the previous dividend, with a 3.6% annual yield.

Greif, Inc. (NYSE:GEF - Get Free Report) SVP Timothy Bergwall sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $60.55, for a total transaction of $121,100.00. Following the sale, the senior vice president owned 66,678 shares in the company, valued at $4,037,352.90. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Timothy Bergwall also recently made the following trade(s):

• On Thursday, July 10th, Timothy Bergwall sold 2,000 shares of Greif stock. The stock was sold at an average price of $68.12, for a total transaction of $136,240.00.

Greif Stock Down 1.4%

Shares of GEF stock traded down $0.84 during trading hours on Tuesday, reaching $60.31. 221,188 shares of the stock were exchanged, compared to its average volume of 232,172. The business's fifty day moving average is $65.10 and its two-hundred day moving average is $59.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.41 and a quick ratio of 1.18. Greif, Inc. has a 12-month low of $48.23 and a 12-month high of $73.16. The firm has a market capitalization of $2.86 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.65 and a beta of 1.01.

Greif (NYSE:GEF - Get Free Report) last released its earnings results on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.22. Greif had a net margin of 3.52% and a return on equity of 10.09%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $740.23 million. During the same period in the prior year, the firm earned $1.03 earnings per share. The business's quarterly revenue was down 2.6% compared to the same quarter last year. As a group, research analysts expect that Greif, Inc. will post 4.11 EPS for the current fiscal year.

Greif Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 16th will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, September 16th. This is a positive change from Greif's previous quarterly dividend of $0.54. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.7%. Greif's payout ratio is currently 68.57%.

Institutional Investors Weigh In On Greif

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new stake in Greif in the second quarter valued at $3,709,000. Neuberger Berman Group LLC acquired a new stake in Greif in the second quarter valued at $216,000. Captrust Financial Advisors acquired a new stake in Greif in the second quarter valued at $227,000. Oxford Asset Management LLP acquired a new stake in Greif in the second quarter valued at $725,000. Finally, MML Investors Services LLC lifted its holdings in Greif by 11.8% in the second quarter. MML Investors Services LLC now owns 27,364 shares of the industrial products company's stock valued at $1,778,000 after acquiring an additional 2,891 shares during the period. Institutional investors and hedge funds own 45.74% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on GEF. Zacks Research lowered shares of Greif from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. Bank of America dropped their price target on shares of Greif from $77.00 to $71.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 2nd. Wells Fargo & Company increased their price target on shares of Greif from $72.00 to $76.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Finally, Truist Financial dropped their price target on shares of Greif from $72.00 to $71.00 and set a "hold" rating on the stock in a research note on Monday, September 8th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $75.80.

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.