Envestnet Portfolio Solutions Inc. Purchases 6,835 Shares of Greif, Inc. $GEF

Envestnet Portfolio Solutions Inc. boosted its position in Greif, Inc. (NYSE:GEF) by 147.5% during the second quarter, HoldingsChannel.com reports. The fund owned 11,470 shares of the industrial products company’s stock after buying an additional 6,835 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Greif were worth $745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEF. Principal Financial Group Inc. grew its stake in shares of Greif by 1.1% during the first quarter. Principal Financial Group Inc. now owns 70,662 shares of the industrial products company’s stock worth $3,886,000 after buying an additional 762 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Greif by 14.6% in the first quarter. Envestnet Asset Management Inc. now owns 107,709 shares of the industrial products company’s stock valued at $5,923,000 after buying an additional 13,690 shares during the period. Twelve Points Wealth Management LLC raised its holdings in shares of Greif by 12.4% during the first quarter. Twelve Points Wealth Management LLC now owns 34,504 shares of the industrial products company’s stock valued at $1,897,000 after purchasing an additional 3,820 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Greif by 23.7% during the first quarter. Victory Capital Management Inc. now owns 212,888 shares of the industrial products company’s stock valued at $11,707,000 after purchasing an additional 40,813 shares during the period. Finally, Denali Advisors LLC raised its holdings in shares of Greif by 9.5% during the first quarter. Denali Advisors LLC now owns 115,167 shares of the industrial products company’s stock valued at $6,333,000 after purchasing an additional 9,946 shares during the period. Institutional investors own 45.74% of the company’s stock.

Insider Activity

In related news, SVP Timothy Bergwall sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $60.55, for a total transaction of $121,100.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.60% of the stock is owned by corporate insiders.

Greif Price Performance

Shares of NYSE:GEF opened at $59.35 on Tuesday. The stock has a market cap of $2.82 billion, a PE ratio of 18.84, a PEG ratio of 2.23 and a beta of 1.00. The company’s fifty day moving average is $62.13 and its 200 day moving average is $60.69. Greif, Inc. has a 52 week low of $48.23 and a 52 week high of $73.16. The company has a quick ratio of 1.18, a current ratio of 1.41 and a debt-to-equity ratio of 1.00.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, August 27th. The industrial products company reported $1.03 EPS 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 company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $740.23 million. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. Research analysts anticipate that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 16th were given a dividend of $0.56 per share. This is an increase from Greif’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 16th. Greif’s dividend payout ratio is presently 71.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GEF. Bank of America lowered their target price on shares of Greif from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. Truist Financial lowered their target price on shares of Greif from $72.00 to $71.00 and set a “hold” rating on the stock in a report on Monday, September 8th. Zacks Research downgraded shares of Greif from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Greif in a report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on shares of Greif from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.00.

Greif 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.