Timothy Bergwall Sells 2,000 Shares of Greif (NYSE:GEF) Stock

Greif, Inc. (NYSE:GEF) SVP Timothy Bergwall sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $60.09, for a total value of $120,180.00. Following the completion of the transaction, the senior vice president directly owned 64,678 shares in the company, valued at $3,886,501.02. This represents a 3.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Timothy Bergwall also recently made the following trade(s):

• On Wednesday, September 10th, Timothy Bergwall sold 2,000 shares of Greif stock. The shares were sold at an average price of $60.55, for a total value of $121,100.00.

Greif Price Performance

NYSE GEF opened at $60.47 on Friday. The stock has a market capitalization of $2.87 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.39 and a beta of 1.00. Greif, Inc. has a 1 year low of $48.23 and a 1 year high of $73.16. The business’s fifty day moving average is $61.67 and its two-hundred day moving average is $60.76. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.18 and a current ratio of 1.41.

Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.22. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $740.23 million. Greif had a return on equity of 10.09% and a net margin of 3.52%.The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, research analysts forecast that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.

Greif Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 16th were issued a $0.56 dividend. 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 3.7%. The ex-dividend date of this dividend was Tuesday, September 16th. Greif’s dividend payout ratio is currently 71.11%.

Hedge Funds Weigh In On Greif

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Greif by 36.2% in the third quarter. Blue Trust Inc. now owns 662 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 176 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Greif by 1.3% in the second quarter. American Century Companies Inc. now owns 21,494 shares of the industrial products company’s stock worth $1,397,000 after acquiring an additional 280 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Greif by 4.3% in the first quarter. Benjamin Edwards Inc. now owns 7,459 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 308 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Greif by 5.5% in the second 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 during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Greif by 1.4% in the second quarter. Retirement Systems of Alabama now owns 31,906 shares of the industrial products company’s stock worth $2,074,000 after acquiring an additional 444 shares during the last quarter. 45.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.