Greif (NYSE:GEF) EVP Bala Sathyanarayanan Sells 7,000 Shares of Stock

Greif, Inc. (NYSE:GEF) EVP Bala Sathyanarayanan sold 7,000 shares of Greif stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $66.62, for a total transaction of $466,340.00. Following the completion of the transaction, the executive vice president directly owned 37,725 shares in the company, valued at $2,513,239.50. This represents a 15.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Greif Stock Up 0.5%

Shares of GEF stock opened at $68.41 on Friday. Greif, Inc. has a 1-year low of $48.23 and a 1-year high of $70.47. The stock’s fifty day moving average price is $61.17 and its 200 day moving average price is $62.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.41 and a quick ratio of 1.18. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 21.72 and a beta of 0.95.

Greif Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Thursday, December 18th will be paid a $0.56 dividend. The ex-dividend date is Thursday, December 18th. This represents a $2.24 dividend on an annualized basis and a yield of 3.3%. Greif’s dividend payout ratio (DPR) is 71.11%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Greif from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Bank of America dropped their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Greif in a research report on Wednesday, October 8th. Truist Financial reduced their target price on Greif from $72.00 to $71.00 and set a “hold” rating for the company in a research note on Monday, September 8th. Finally, Wells Fargo & Company lifted their price target on Greif from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Greif currently has a consensus rating of “Hold” and a consensus price target of $69.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in Greif by 21.7% in the second quarter. Envestnet Asset Management Inc. now owns 131,131 shares of the industrial products company’s stock valued at $8,522,000 after purchasing an additional 23,422 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Greif by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 596,557 shares of the industrial products company’s stock worth $32,805,000 after buying an additional 27,832 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Greif during the 2nd quarter valued at approximately $1,061,000. American Century Companies Inc. acquired a new stake in Greif in the 1st quarter valued at $1,167,000. Finally, UniSuper Management Pty Ltd acquired a new stake in Greif in the 1st quarter valued at $654,000. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

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.