Wellington Management Group LLP Reduces Stake in Greif, Inc. (NYSE:GEF)

Wellington Management Group LLP reduced its stake in Greif, Inc. (NYSE:GEF - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,788 shares of the industrial products company's stock after selling 15,505 shares during the period. Wellington Management Group LLP owned 0.46% of Greif worth $13,189,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Avior Wealth Management LLC bought a new position in shares of Greif in the fourth quarter worth approximately $31,000. Principal Securities Inc. lifted its position in 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 acquiring an additional 537 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Greif during the 3rd quarter valued at $200,000. QRG Capital Management Inc. increased its holdings in shares of Greif by 5.6% in the 4th quarter. QRG Capital Management Inc. now owns 3,966 shares of the industrial products company's stock worth $242,000 after purchasing an additional 211 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of Greif by 26.6% in the fourth quarter. Park Avenue Securities LLC now owns 5,133 shares of the industrial products company's stock worth $314,000 after purchasing an additional 1,077 shares during the last quarter. 45.74% of the stock is owned by institutional investors.

Greif Trading Down 1.7 %

GEF traded down $0.88 during trading on Tuesday, hitting $51.67. 14,644 shares of the stock were exchanged, compared to its average volume of 171,884. Greif, Inc. has a 1 year low of $48.23 and a 1 year high of $73.16. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.02 and a beta of 0.91. The firm has a 50 day simple moving average of $56.38 and a 200 day simple moving average of $61.37. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.53.

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

Greif Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, March 17th. Greif's dividend payout ratio (DPR) is presently 61.71%.

Insider Activity at Greif

In other Greif 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 stock was bought at an average cost of $58.50 per share, for a total transaction of $58,500.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company's stock, valued at approximately $58,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 owned by insiders.

Wall Street Analysts Forecast Growth

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

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.