Dynamic Technology Lab Private Ltd Acquires Shares of 16,326 Greif, Inc. $GEF

by · The Cerbat Gem

Dynamic Technology Lab Private Ltd bought a new stake in shares of Greif, Inc. (NYSE:GEF – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor bought 16,326 shares of the industrial products company’s stock, valued at approximately $1,061,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Greif by 13.7% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 136,502 shares of the industrial products company’s stock worth $8,871,000 after buying an additional 16,449 shares in the last quarter. Creative Planning lifted its holdings in shares of Greif by 92.4% during the 2nd quarter. Creative Planning now owns 13,338 shares of the industrial products company’s stock worth $867,000 after acquiring an additional 6,407 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Greif by 8.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,707 shares of the industrial products company’s stock worth $436,000 after acquiring an additional 528 shares during the period. CSM Advisors LLC acquired a new stake in shares of Greif during the 2nd quarter worth approximately $315,000. Finally, Bank of Montreal Can boosted its position in shares of Greif by 5.5% during the 2nd quarter. Bank of Montreal Can now owns 6,002 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 314 shares in the last quarter. Institutional investors and hedge funds own 45.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial reduced their target price on Greif from $72.00 to $71.00 and set a “hold” rating on the stock in a report on Monday, September 8th. Bank of America reduced their price objective on 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 boosted their target price on Greif from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Zacks Research raised shares of Greif from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Greif in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Greif presently has a consensus rating of “Hold” and a consensus price target of $69.50.

Read Our Latest Research Report on GEF

Insider Activity at Greif

In related news, CFO Lawrence A. Hilsheimer bought 1,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average cost of $65.49 per share, with a total value of $65,490.00. Following the transaction, the chief financial officer directly owned 198,444 shares in the company, valued at approximately $12,996,097.56. This trade represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gary R. Martz sold 5,000 shares of Greif stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $60.48, for a total value of $302,400.00. Following the transaction, the executive vice president directly owned 28,100 shares in the company, valued at $1,699,488. The trade was a 15.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 32,293 shares of company stock worth $2,145,733 and sold 53,851 shares worth $3,227,003. 7.60% of the stock is currently owned by company insiders.

Greif Stock Performance

NYSE:GEF opened at $62.99 on Friday. The stock has a market cap of $2.99 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04. The company has a current ratio of 1.41, a quick ratio of 1.18 and a debt-to-equity ratio of 1.00. The stock’s 50-day moving average is $59.46 and its 200-day moving average is $61.85. Greif, Inc. has a 1-year low of $48.23 and a 1-year high of $73.16.

Greif (NYSE:GEF – Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $740.23 million. During the same quarter last year, the business earned $1.03 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts anticipate that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 16th were paid a $0.56 dividend. This is a positive change from Greif’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 16th. Greif’s payout ratio is presently 71.11%.

About Greif

(Free Report)

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.

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