Summit Financial Strategies Inc. Sells 330 Shares of Greif, Inc. (NYSE:GEF)

Summit Financial Strategies Inc. lessened its holdings in Greif, Inc. (NYSE:GEF) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,563 shares of the industrial products company’s stock after selling 330 shares during the period. Summit Financial Strategies Inc.’s holdings in Greif were worth $279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans lifted its position in shares of Greif by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 784,004 shares of the industrial products company’s stock valued at $49,126,000 after buying an additional 30,192 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Greif by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 524,637 shares of the industrial products company’s stock worth $32,874,000 after purchasing an additional 44,473 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Greif by 16.7% during the 2nd quarter. AQR Capital Management LLC now owns 372,040 shares of the industrial products company’s stock valued at $21,381,000 after purchasing an additional 53,110 shares during the last quarter. Systematic Financial Management LP boosted its position in shares of Greif by 15.5% in the 3rd quarter. Systematic Financial Management LP now owns 302,552 shares of the industrial products company’s stock worth $18,958,000 after purchasing an additional 40,494 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Greif during the 2nd quarter valued at about $4,012,000. Hedge funds and other institutional investors own 45.74% of the company’s stock.

Greif Stock Up 0.3 %

Shares of GEF opened at $61.69 on Monday. The firm has a market cap of $2.91 billion, a P/E ratio of 13.65, a PEG ratio of 0.99 and a beta of 0.95. Greif, Inc. has a 12 month low of $55.95 and a 12 month high of $73.16. The stock’s 50 day moving average is $64.48 and its two-hundred day moving average is $63.33. The company has a current ratio of 1.53, a quick ratio of 1.13 and a debt-to-equity ratio of 1.26.

Greif (NYSE:GEF) last announced its earnings results 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). Greif had a net margin of 4.81% and a return on equity of 11.84%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $1.56 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts predict that Greif, Inc. will post 4.22 earnings per share for the current fiscal year.

Greif Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.50%. The ex-dividend date was Monday, December 16th. Greif’s payout ratio is currently 47.79%.

Wall Street Analyst Weigh In

Several analysts have weighed in on GEF shares. Bank of America dropped their target price on shares of 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 lifted their price target on Greif from $67.00 to $71.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Sidoti assumed coverage on Greif in a report on Wednesday, November 20th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Robert W. Baird increased their price target on shares of Greif from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Greif presently has an average rating of “Moderate Buy” and an average price target of $79.33.

Insiders Place Their Bets

In related news, Director B Andrew Rose purchased 3,500 shares of Greif stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $70.20 per share, with a total value of $245,700.00. Following the purchase, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Lawrence A. Hilsheimer acquired 1,100 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $67.61 per share, with a total value of $74,371.00. Following the transaction, the chief financial officer now directly owns 163,251 shares in the company, valued at $11,037,400.11. This trade represents a 0.68 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 6,225 shares of company stock valued at $431,731 in the last three months. 7.60% of the stock is currently owned by insiders.

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.