Greif (NYSE:GEF) Hits New 52-Week Low After Earnings Miss

Greif, Inc. (NYSE:GEF - Get Free Report) hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The stock traded as low as $54.93 and last traded at $55.84, with a volume of 38419 shares traded. The stock had previously closed at $60.35.

The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.33). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Greif had a net margin of 4.81% and a return on equity of 11.84%.

Greif Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Monday, March 17th. Greif's dividend payout ratio is presently 61.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird reduced their price target on Greif from $75.00 to $68.00 and set a "neutral" rating on the stock in a research report on Friday. Bank of America decreased their target price on Greif from $79.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Greif from $76.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday. Truist Financial restated a "hold" rating and set a $65.00 price objective (down previously from $71.00) on shares of Greif in a report on Monday. Finally, Sidoti assumed coverage on shares of Greif in a research note on Wednesday, November 20th. They issued a "buy" rating and a $93.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $77.00.

Remove Ads

Insiders Place Their Bets

In related news, Director B Andrew Rose acquired 3,500 shares of the stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $70.20 per share, with a total value of $245,700.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company's stock, valued at approximately $245,700. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bala Sathyanarayanan sold 748 shares of the firm's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $60.21, for a total transaction of $45,037.08. Following the sale, the executive vice president now owns 32,729 shares in the company, valued at approximately $1,970,613.09. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 6,225 shares of company stock worth $431,731. Company insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Deprince Race & Zollo Inc. acquired a new stake in Greif in the 4th quarter valued at approximately $46,279,000. Point72 Asset Management L.P. raised its holdings in shares of Greif by 7,222.6% in the fourth quarter. Point72 Asset Management L.P. now owns 233,370 shares of the industrial products company's stock valued at $14,264,000 after purchasing an additional 230,183 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Greif in the fourth quarter worth $7,473,000. Norges Bank acquired a new position in Greif during the fourth quarter worth $4,219,000. Finally, Ameriprise Financial Inc. grew its position in Greif by 25.3% in the fourth quarter. Ameriprise Financial Inc. now owns 298,237 shares of the industrial products company's stock valued at $18,229,000 after purchasing an additional 60,313 shares in the last quarter. 45.74% of the stock is owned by institutional investors and hedge funds.

Greif Trading Down 3.2 %

The business's 50-day moving average is $60.76 and its two-hundred day moving average is $63.09. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.53 and a quick ratio of 1.13. The firm has a market cap of $2.62 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.02 and a beta of 0.94.

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.