Greif, Inc. (NYSE:GEF) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC grew its holdings in shares of Greif, Inc. (NYSE:GEF) by 14.3% in the 3rd quarter, Holdings Channel reports. The fund owned 15,830 shares of the industrial products company’s stock after acquiring an additional 1,986 shares during the period. MML Investors Services LLC’s holdings in Greif were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GEF. Allspring Global Investments Holdings LLC grew its stake in Greif by 770.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,933 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 1,711 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Greif during the 2nd quarter valued at approximately $64,000. nVerses Capital LLC acquired a new stake in shares of Greif during the second quarter worth approximately $80,000. Cadence Wealth Management LLC increased its stake in shares of Greif by 11.1% in the second quarter. Cadence Wealth Management LLC now owns 4,460 shares of the industrial products company’s stock worth $256,000 after buying an additional 444 shares during the last quarter. Finally, Versor Investments LP raised its holdings in Greif by 15.9% in the second quarter. Versor Investments LP now owns 18,234 shares of the industrial products company’s stock valued at $1,048,000 after acquiring an additional 2,507 shares in the last quarter. 45.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on GEF shares. Truist Financial reissued a “hold” rating and set a $67.00 price objective (down from $69.00) on shares of Greif in a report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $88.00 price target on shares of Greif in a research note on Monday, August 26th. Bank of America cut their price objective on Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company decreased their target price on Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Robert W. Baird upped their price target on Greif from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.67.

Greif Stock Down 1.5 %

Shares of Greif stock opened at $60.45 on Friday. Greif, Inc. has a twelve month low of $55.95 and a twelve month high of $73.16. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.19 and a beta of 0.92. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 1.24. The business’s 50 day simple moving average is $66.56 and its 200-day simple moving average is $63.17.

Greif (NYSE:GEF) last posted its earnings results on Wednesday, December 4th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.23). The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. Greif had a net margin of 4.81% and a return on equity of 11.85%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.56 earnings per share. Equities research analysts forecast that Greif, Inc. will post 4.49 earnings per share for the current year.

Greif Dividend Announcement

The company 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 $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.57%. The ex-dividend date is Monday, December 16th. Greif’s dividend payout ratio (DPR) is 47.79%.

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.