Envestnet Asset Management Inc. Increases Position in Greif, Inc. (NYSE:GEF)

Envestnet Asset Management Inc. raised its stake in shares of Greif, Inc. (NYSE:GEF - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,019 shares of the industrial products company's stock after acquiring an additional 24,300 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of Greif worth $5,746,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEF. Sanctuary Advisors LLC raised its stake in shares of Greif by 24.0% in the third quarter. Sanctuary Advisors LLC now owns 6,953 shares of the industrial products company's stock valued at $436,000 after buying an additional 1,344 shares during the period. Park Avenue Securities LLC increased its stake in Greif by 26.6% in the fourth quarter. Park Avenue Securities LLC now owns 5,133 shares of the industrial products company's stock valued at $314,000 after acquiring an additional 1,077 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Greif by 8.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 22,578 shares of the industrial products company's stock valued at $1,380,000 after buying an additional 1,832 shares in the last quarter. Avior Wealth Management LLC bought a new stake in shares of Greif in the 4th quarter worth approximately $31,000. Finally, Twelve Points Wealth Management LLC boosted its position in Greif by 15.1% during the fourth quarter. Twelve Points Wealth Management LLC now owns 30,684 shares of the industrial products company's stock valued at $1,875,000 after buying an additional 4,036 shares during the period. Hedge funds and other institutional investors own 45.74% of the company's stock.

Greif Stock Down 0.9 %

GEF traded down $0.47 during trading on Friday, hitting $53.32. The stock had a trading volume of 53,133 shares, compared to its average volume of 170,209. The stock has a 50 day simple moving average of $54.91 and a two-hundred day simple moving average of $60.83. Greif, Inc. has a twelve month low of $48.23 and a twelve month high of $73.16. The company has a market capitalization of $2.53 billion, a PE ratio of 11.78, a PEG ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.53.

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

Greif Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.54 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.16 annualized dividend and a dividend yield of 4.05%. Greif's dividend payout ratio is presently 61.71%.

Wall Street Analysts Forecast Growth

GEF has been the subject of a number of analyst reports. Robert W. Baird dropped their target price on shares of Greif from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Wells Fargo & Company cut their target price 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 lowered 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. Finally, Truist Financial dropped their target price on shares of Greif from $65.00 to $56.00 and set a "hold" rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.50.

Insider Activity at Greif

In other news, Director Frank Calhoun V. Miller bought 1,000 shares of Greif stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $58.50 per share, for a total transaction of $58,500.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at approximately $58,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Emkes acquired 3,000 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $55.89 per share, with a total value of $167,670.00. Following the transaction, the director now owns 44,257 shares of the company's stock, valued at approximately $2,473,523.73. The trade was a 7.27 % 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.

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.