Greif, Inc. (NYSE:GEF) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Greif, Inc. (NYSE:GEF) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,645 shares of the industrial products company’s stock after selling 4,453 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Greif were worth $956,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in Greif during the third quarter worth $518,000. Stifel Financial Corp lifted its stake in Greif by 97.0% during the third quarter. Stifel Financial Corp now owns 34,045 shares of the industrial products company’s stock worth $2,133,000 after purchasing an additional 16,759 shares in the last quarter. Moran Wealth Management LLC acquired a new position in Greif during the fourth quarter worth $2,594,000. Charles Schwab Investment Management Inc. lifted its stake in 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 purchasing an additional 44,473 shares in the last quarter. Finally, Zacks Investment Management acquired a new position in Greif during the third quarter worth $610,000. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Greif Stock Performance

NYSE:GEF opened at $56.25 on Friday. The firm has a market capitalization of $2.67 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The business’s fifty day moving average price is $59.39 and its 200 day moving average price is $62.45. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.53 and a quick ratio of 1.13. Greif, Inc. has a 12 month low of $53.43 and a 12 month high of $73.16.

Greif (NYSE:GEF) last posted 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). The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Greif had a net margin of 4.81% and a return on equity of 11.84%. On average, sell-side analysts anticipate that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.

Greif Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Monday, March 17th. Greif’s dividend payout ratio (DPR) is presently 61.71%.

Insider Activity at Greif

In other news, CFO Lawrence A. Hilsheimer bought 1,075 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $69.14 per share, for a total transaction of $74,325.50. Following the completion of the transaction, the chief financial officer now owns 165,426 shares of the company’s stock, valued at approximately $11,437,553.64. This trade represents a 0.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David C. Lloyd sold 2,263 shares of Greif stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $55.24, for a total value of $125,008.12. Following the sale, the vice president now owns 7,580 shares in the company, valued at $418,719.20. This trade represents a 22.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 6,175 shares of company stock valued at $374,867 over the last quarter. 7.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GEF has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on Greif from $76.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Bank of America cut their price objective on Greif from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Robert W. Baird cut their price objective 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, Truist Financial reaffirmed a “hold” rating and set a $65.00 price objective (down previously from $71.00) on shares of Greif in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.00.

Greif 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.