Greif (NYSE:GEF) Price Target Lowered to $56.00 at Truist Financial

Greif (NYSE:GEF) had its target price lowered by Truist Financial from $65.00 to $56.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

GEF has been the topic of several other research reports. Wells Fargo & Company cut their price objective on Greif from $76.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Bank of America reduced their price target on shares of Greif from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Robert W. Baird lowered their price objective on shares of Greif from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Greif currently has an average rating of “Moderate Buy” and an average price target of $75.50.

Greif Trading Up 2.4 %

Shares of Greif stock opened at $52.43 on Tuesday. The company has a market capitalization of $2.49 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The stock has a fifty day simple moving average of $55.23 and a 200 day simple moving average of $60.94. Greif has a 12-month low of $48.23 and a 12-month high of $73.16. The company has a current ratio of 1.53, a quick ratio of 1.13 and a debt-to-equity ratio of 1.26.

Greif (NYSE:GEF) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.33). Greif had a net margin of 4.81% and a return on equity of 11.84%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. On average, sell-side analysts anticipate that Greif will post 4.11 earnings per share for the current fiscal year.

Greif Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Monday, March 17th. Greif’s dividend payout ratio (DPR) is presently 61.71%.

Insider Transactions at Greif

In other Greif news, Director Frank Calhoun V. Miller acquired 1,000 shares of Greif stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $58.50 per share, for a total transaction of $58,500.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $58,500. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David C. Lloyd sold 2,263 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $55.24, for a total transaction of $125,008.12. Following the sale, the vice president now directly owns 7,580 shares in the company, valued at $418,719.20. The trade was a 22.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC purchased a new stake in shares of Greif in the fourth quarter worth about $31,000. Parallel Advisors LLC boosted its holdings in Greif by 104.9% in the 1st quarter. Parallel Advisors LLC now owns 838 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 429 shares during the period. Quarry LP purchased a new position in shares of Greif during the 4th quarter valued at $53,000. Principal Securities Inc. increased its holdings in shares of Greif by 28.2% in the fourth quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 537 shares during the period. Finally, PharVision Advisers LLC purchased a new stake in shares of Greif in the fourth quarter worth $207,000. Institutional investors own 45.74% of the company’s stock.

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.