Greif, Inc. (NYSE:GEF) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Greif, Inc. (NYSE:GEF) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,555 shares of the industrial products company’s stock after selling 1,123 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Greif were worth $1,727,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Thrivent Financial for Lutherans grew its stake in Greif by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 784,004 shares of the industrial products company’s stock worth $49,126,000 after purchasing an additional 30,192 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Greif by 17.6% in the 2nd quarter. William Blair Investment Management LLC now owns 540,330 shares of the industrial products company’s stock valued at $31,053,000 after buying an additional 80,754 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Greif by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 524,637 shares of the industrial products company’s stock worth $32,874,000 after buying an additional 44,473 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Greif by 16.7% during the second quarter. AQR Capital Management LLC now owns 372,040 shares of the industrial products company’s stock worth $21,381,000 after buying an additional 53,110 shares during the period. Finally, Systematic Financial Management LP raised its holdings in Greif by 12.3% in the second quarter. Systematic Financial Management LP now owns 262,058 shares of the industrial products company’s stock valued at $15,061,000 after acquiring an additional 28,669 shares in the last quarter. Hedge funds and other institutional investors own 45.74% of the company’s stock.

Greif Stock Performance

Shares of GEF stock opened at $68.13 on Tuesday. The stock’s 50-day moving average price is $65.98 and its 200 day moving average price is $63.10. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $3.21 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. Greif, Inc. has a 52-week low of $55.95 and a 52-week high of $73.16.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, December 4th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.23). The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Greif had a net margin of 4.81% and a return on equity of 11.85%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 EPS. As a group, equities research analysts forecast that Greif, Inc. will post 4.46 EPS for the current year.

Greif Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.16 annualized dividend and a dividend yield of 3.17%. Greif’s payout ratio is currently 47.79%.

Analyst Ratings Changes

A number of equities research analysts have commented on GEF shares. Stifel Nicolaus reissued a “buy” rating and issued a $88.00 price objective on shares of Greif in a research report on Monday, August 26th. Wells Fargo & Company lowered their price objective on Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Robert W. Baird increased their price objective on Greif from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday. Truist Financial restated a “hold” rating and set a $67.00 target price (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Finally, Sidoti began coverage on shares of Greif in a research note on Wednesday, November 20th. They issued a “buy” rating and a $93.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Greif currently has an average rating of “Moderate Buy” and a consensus price target of $78.67.

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.