69,020 Shares in Greif, Inc. (NYSE:GEF) Purchased by Norges Bank

Norges Bank acquired a new position in shares of Greif, Inc. (NYSE:GEF - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 69,020 shares of the industrial products company's stock, valued at approximately $4,219,000. Norges Bank owned approximately 0.15% of Greif as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC purchased a new stake in shares of Greif in the fourth quarter worth about $31,000. Principal Securities Inc. increased its holdings in Greif by 28.2% during the 4th quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company's stock worth $149,000 after acquiring an additional 537 shares during the period. Point72 Asset Management L.P. purchased a new stake in Greif in the 3rd quarter worth approximately $200,000. QRG Capital Management Inc. boosted its holdings in Greif by 5.6% in the 4th quarter. QRG Capital Management Inc. now owns 3,966 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 211 shares during the period. Finally, Park Avenue Securities LLC grew its position in shares of Greif by 26.6% during the 4th quarter. Park Avenue Securities LLC now owns 5,133 shares of the industrial products company's stock valued at $314,000 after purchasing an additional 1,077 shares in the last quarter. Institutional investors own 45.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GEF shares. 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. Truist Financial reiterated a "hold" rating and set a $65.00 price target (down previously from $71.00) on shares of Greif in a research report on Monday, March 3rd. Robert W. Baird decreased their price objective 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. Finally, Wells Fargo & Company dropped their target price 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Greif currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

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Greif Price Performance

GEF traded down $0.67 during midday trading on Tuesday, hitting $51.88. The stock had a trading volume of 9,414 shares, compared to its average volume of 168,719. Greif, Inc. has a 1 year low of $48.23 and a 1 year high of $73.16. 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 fifty day moving average of $56.38 and a 200 day moving average of $61.37. The company has a market cap of $2.46 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91.

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

Greif Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, March 17th. Greif's dividend payout ratio (DPR) is presently 61.71%.

Insider Activity at Greif

In other news, Director Frank Calhoun V. Miller bought 1,000 shares of the firm's stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $58,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Emkes purchased 3,000 shares of the company's stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $55.89 per share, with a total value of $167,670.00. Following the transaction, the director now directly owns 44,257 shares in the company, valued at $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. 7.60% of the stock is currently owned by company 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.