Greif (NYSE:GEF) Reaches New 12-Month Low – Here’s Why

Greif, Inc. (NYSE:GEF)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $48.40 and last traded at $48.82, with a volume of 215704 shares changing hands. The stock had previously closed at $50.69.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEF. Bank of America dropped their target price 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. Truist Financial reiterated a “hold” rating and issued a $65.00 target price (down previously from $71.00) on shares of Greif in a research note on Monday, March 3rd. Robert W. Baird decreased their price target on Greif from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company dropped their price target on Greif from $76.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Greif Trading Down 3.7 %

The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.32 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.02 and a beta of 0.91. The business has a 50-day moving average price of $57.34 and a two-hundred day moving average price of $61.74.

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

Greif Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Monday, March 17th. Greif’s dividend payout ratio (DPR) is currently 61.71%.

Insider Transactions at Greif

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

Institutional Trading of Greif

Several hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC acquired a new stake in shares of Greif during the fourth quarter worth about $31,000. Parallel Advisors LLC raised its holdings in Greif by 104.9% during the 1st quarter. Parallel Advisors LLC now owns 838 shares of the industrial products company’s stock worth $46,000 after buying an additional 429 shares during the period. Quarry LP bought a new position in Greif in the fourth quarter valued at approximately $53,000. Principal Securities Inc. boosted 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 valued at $149,000 after buying an additional 537 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Greif during the third quarter worth $200,000. Institutional investors and hedge funds 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.