Greif (NYSE:GEF) Now Covered by Analysts at Truist Financial

Truist Financial initiated coverage on shares of Greif (NYSE:GEF) in a research note issued to investors on Thursday morning, MarketBeat reports. The firm issued a hold rating and a $71.00 price objective on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of Greif from a hold rating to a buy rating in a report on Monday, January 1st. Wells Fargo & Company raised shares of Greif from an equal weight rating to an overweight rating and increased their price objective for the company from $64.00 to $75.00 in a report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $77.25.

Greif Price Performance

Shares of GEF opened at $60.75 on Thursday. The firm has a market cap of $2.86 billion, a PE ratio of 10.51, a P/E/G ratio of 1.59 and a beta of 0.87. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $64.26 and a two-hundred day simple moving average of $64.90. Greif has a 1-year low of $59.37 and a 1-year high of $76.00.

Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, February 28th. The industrial products company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.20 by $1.07. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Greif had a return on equity of 18.65% and a net margin of 6.53%. Greif’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. On average, equities analysts anticipate that Greif will post 3.88 EPS for the current year.

Greif Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were paid a $0.52 dividend. The ex-dividend date was Friday, March 15th. This represents a $2.08 annualized dividend and a yield of 3.42%. Greif’s dividend payout ratio (DPR) is 35.99%.

Insider Buying and Selling at Greif

In related news, Treasurer Anthony John Krabill acquired 745 shares of the stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $63.12 per share, for a total transaction of $47,024.40. Following the completion of the purchase, the treasurer now owns 1,651 shares of the company’s stock, valued at approximately $104,211.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Treasurer Anthony John Krabill acquired 745 shares of the stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $63.12 per share, for a total transaction of $47,024.40. Following the completion of the purchase, the treasurer now owns 1,651 shares of the company’s stock, valued at approximately $104,211.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ole G. Rosgaard acquired 4,705 shares of the stock in a transaction dated Friday, March 8th. The shares were bought at an average price of $67.00 per share, with a total value of $315,235.00. Following the completion of the purchase, the chief executive officer now directly owns 4,705 shares of the company’s stock, valued at approximately $315,235. The disclosure for this purchase can be found here. Over the last three months, insiders bought 42,934 shares of company stock worth $2,864,352 and sold 6,000 shares worth $384,620. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Greif

Several hedge funds have recently added to or reduced their stakes in the business. Meritage Portfolio Management boosted its holdings in Greif by 5.3% in the third quarter. Meritage Portfolio Management now owns 3,423 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 173 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Greif by 4.1% in the third quarter. Avantax Advisory Services Inc. now owns 4,445 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 174 shares during the period. Cadence Wealth Management LLC raised its position in shares of Greif by 5.1% in the fourth quarter. Cadence Wealth Management LLC now owns 3,999 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 193 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of Greif by 4.4% in the third quarter. Atria Wealth Solutions Inc. now owns 4,600 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 195 shares during the period. Finally, Kestra Advisory Services LLC raised its position in shares of Greif by 6.8% in the fourth quarter. Kestra Advisory Services LLC now owns 3,402 shares of the industrial products company’s stock worth $223,000 after acquiring an additional 217 shares during the period. 45.74% of the stock is owned by hedge funds and other institutional investors.

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.