Connor Clark & Lunn Investment Management Ltd. Cuts Stock Position in Greif, Inc. (NYSE:GEF)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Greif, Inc. (NYSE:GEF - Free Report) by 22.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,645 shares of the industrial products company's stock after selling 4,453 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Greif were worth $956,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. QRG Capital Management Inc. raised its position in shares of Greif by 5.6% in the fourth quarter. QRG Capital Management Inc. now owns 3,966 shares of the industrial products company's stock valued at $242,000 after buying an additional 211 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its stake in shares of Greif by 4.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 5,541 shares of the industrial products company's stock valued at $342,000 after buying an additional 221 shares during the period. Avior Wealth Management LLC bought a new position in shares of Greif during the fourth quarter valued at $31,000. Principal Securities Inc. grew its position in shares of Greif by 28.2% in the 4th quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company's stock valued at $149,000 after buying an additional 537 shares during the last quarter. Finally, Quest Partners LLC increased its position in Greif by 35.0% during the 3rd quarter. Quest Partners LLC now owns 2,257 shares of the industrial products company's stock valued at $141,000 after purchasing an additional 585 shares during the period. 45.74% of the stock is owned by institutional investors.

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Insider Buying and Selling at Greif

In other news, CFO Lawrence A. Hilsheimer purchased 1,075 shares of the company's stock in a transaction on 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 purchase, the chief financial officer now owns 165,426 shares in the company, valued at $11,437,553.64. This trade represents a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Emkes acquired 3,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $55.89 per share, with a total value of $167,670.00. Following the acquisition, the director now owns 44,257 shares in the company, valued at approximately $2,473,523.73. This trade represents a 7.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,175 shares of company stock valued at $374,867 over the last ninety days. 7.60% of the stock is currently owned by company insiders.

Greif Stock Down 2.0 %

Greif stock traded down $1.11 on Friday, hitting $55.16. 325,008 shares of the stock traded hands, compared to its average volume of 167,089. The business's fifty day simple moving average is $59.34 and its 200 day simple moving average is $62.40. The firm has a market cap of $2.62 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The company has a current ratio of 1.53, a quick ratio of 1.13 and a debt-to-equity ratio of 1.26. Greif, Inc. has a 1 year low of $53.43 and a 1 year high of $73.16.

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

Greif Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Monday, March 17th. Greif's payout ratio is 61.71%.

Wall Street Analyst Weigh In

GEF has been the topic of a number of research reports. Bank of America dropped their target price on shares of Greif from $79.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company reduced their price objective on shares of Greif from $76.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Truist Financial reiterated a "hold" rating and set a $65.00 target price (down from $71.00) on shares of Greif in a research note on Monday, March 3rd. Finally, Robert W. Baird cut their price target on Greif from $75.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

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.