Greif, Inc. (NYSE:GEF) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in Greif, Inc. (NYSE:GEF - Free Report) by 26.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,247 shares of the industrial products company's stock after selling 24,850 shares during the quarter. Principal Financial Group Inc. owned about 0.15% of Greif worth $4,339,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Quarry LP increased its holdings in Greif by 71.9% during the 2nd quarter. Quarry LP now owns 545 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 228 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Greif by 80.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company's stock worth $73,000 after purchasing an additional 561 shares during the period. Quest Partners LLC lifted its position in Greif by 27,766.7% during the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company's stock valued at $96,000 after buying an additional 1,666 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Greif by 770.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,933 shares of the industrial products company's stock valued at $111,000 after acquiring an additional 1,711 shares in the last quarter. Finally, nVerses Capital LLC lifted its stake in shares of Greif by 50.0% during the third quarter. nVerses Capital LLC now owns 2,100 shares of the industrial products company's stock worth $132,000 after purchasing an additional 700 shares in the last quarter. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director B Andrew Rose purchased 3,500 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $70.20 per share, for a total transaction of $245,700.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Lawrence A. Hilsheimer acquired 1,100 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $67.61 per share, for a total transaction of $74,371.00. Following the completion of the transaction, the chief financial officer now owns 163,251 shares in the company, valued at $11,037,400.11. The trade was a 0.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,225 shares of company stock worth $431,731 over the last quarter. 3.07% of the stock is owned by company insiders.

Greif Stock Up 0.9 %

Shares of GEF traded up $0.53 during midday trading on Friday, hitting $61.03. The company had a trading volume of 251,804 shares, compared to its average volume of 233,652. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 1.24. Greif, Inc. has a 52 week low of $55.95 and a 52 week high of $73.16. The company's 50 day moving average price is $65.98 and its 200 day moving average price is $63.10. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.19 and a beta of 0.95.

Greif (NYSE:GEF - Get Free Report) last announced its quarterly earnings data on Wednesday, December 4th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.23). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. Greif had a net margin of 4.81% and a return on equity of 11.85%. The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.56 EPS. On average, equities research analysts predict that Greif, Inc. will post 4.49 EPS for the current year.

Greif Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Monday, December 16th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Monday, December 16th. Greif's dividend payout ratio is presently 47.79%.

Analyst Ratings Changes

Several research analysts have recently weighed in on GEF shares. 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. Robert W. Baird raised their target price on Greif from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. 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, Greif currently has a consensus rating of "Moderate Buy" and an average price target of $78.67.

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.