Greif (NYSE:GEF) Reaches New 12-Month Low - Here's Why

Greif, Inc. (NYSE:GEF - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $48.40 and last traded at $48.82, with a volume of 215704 shares trading hands. The stock had previously closed at $50.69.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial reissued a "hold" rating and set a $65.00 price target (down from $71.00) on shares of Greif in a research note on Monday, March 3rd. Wells Fargo & Company reduced their price target on shares of 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 shares of Greif from $79.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Robert W. Baird reduced their target price on shares of Greif from $75.00 to $68.00 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $77.00.

Greif Stock Up 1.9 %

The stock has a market capitalization of $2.51 billion, a PE ratio of 11.72, 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. The business has a 50 day moving average of $56.57 and a two-hundred day moving average of $61.44.

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

Greif Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, March 17th. This represents a $2.16 dividend on an annualized basis and a yield of 4.08%. Greif's payout ratio is 61.71%.

Insiders Place Their Bets

In related news, Director Frank Calhoun V. Miller purchased 1,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $58.50 per share, with a total value of $58,500.00. Following the transaction, the director now owns 1,000 shares of the company's stock, valued at approximately $58,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David C. Lloyd sold 2,263 shares of the company's 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 completion of the sale, the vice president now owns 7,580 shares in the company, valued at $418,719.20. The trade was a 22.99 % decrease in their position. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by insiders.

Institutional Trading of Greif

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its position in shares of Greif by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 801,429 shares of the industrial products company's stock valued at $48,983,000 after acquiring an additional 17,425 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in Greif in the fourth quarter valued at approximately $46,279,000. Charles Schwab Investment Management Inc. increased its position in shares of Greif by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 568,725 shares of the industrial products company's stock valued at $34,760,000 after buying an additional 44,088 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Greif by 2.1% during the 4th quarter. William Blair Investment Management LLC now owns 535,932 shares of the industrial products company's stock worth $32,756,000 after buying an additional 11,210 shares during the period. Finally, Systematic Financial Management LP lifted its position in shares of Greif by 2.5% during the 4th quarter. Systematic Financial Management LP now owns 310,236 shares of the industrial products company's stock valued at $18,962,000 after buying an additional 7,684 shares in the last quarter. Institutional investors and hedge funds own 45.74% of the company's stock.

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.