Shell Asset Management Co. Cuts Position in Greif, Inc. (NYSE:GEF)

Posted by Defense World Staff on May 5th, 2023

Shell Asset Management Co. decreased its position in shares of Greif, Inc. (NYSE:GEF – Get Rating) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,054 shares of the industrial products company’s stock after selling 1,643 shares during the period. Shell Asset Management Co.’s holdings in Greif were worth $540,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ronald Blue Trust Inc. increased its position in shares of Greif by 59.9% during the 4th quarter. Ronald Blue Trust Inc. now owns 491 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 184 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Greif by 1.9% in the 1st quarter. Yousif Capital Management LLC now owns 13,901 shares of the industrial products company’s stock worth $904,000 after acquiring an additional 260 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Greif by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 60,030 shares of the industrial products company’s stock valued at $4,026,000 after purchasing an additional 267 shares in the last quarter. Twelve Points Wealth Management LLC boosted its stake in shares of Greif by 1.9% in the 4th quarter. Twelve Points Wealth Management LLC now owns 16,123 shares of the industrial products company’s stock valued at $1,081,000 after purchasing an additional 306 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Greif by 6.3% during the 3rd quarter. Creative Planning now owns 7,614 shares of the industrial products company’s stock valued at $454,000 after purchasing an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 47.25% of the company’s stock.

Insiders Place Their Bets

In other Greif news, CFO Lawrence A. Hilsheimer bought 3,600 shares of Greif stock in a transaction dated Friday, March 17th. The shares were purchased at an average cost of $69.40 per share, with a total value of $249,840.00. Following the completion of the purchase, the chief financial officer now owns 108,992 shares of the company’s stock, valued at $7,564,044.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Lawrence A. Hilsheimer purchased 3,600 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was bought at an average cost of $69.40 per share, with a total value of $249,840.00. Following the completion of the purchase, the chief financial officer now directly owns 108,992 shares in the company, valued at $7,564,044.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lawrence A. Hilsheimer acquired 3,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were purchased at an average cost of $69.45 per share, for a total transaction of $208,350.00. Following the completion of the transaction, the chief financial officer now owns 101,892 shares in the company, valued at approximately $7,076,399.40. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 8,437 shares of company stock worth $578,287. 7.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Greif in a research report on Thursday, March 16th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.00.

Greif Stock Down 1.8 %

Shares of Greif stock opened at $61.68 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.67. Greif, Inc. has a 52-week low of $57.10 and a 52-week high of $74.22. The company’s 50 day moving average price is $63.04 and its 200-day moving average price is $66.99. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 1.22 and a beta of 0.96.

Greif (NYSE:GEF – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.20). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Greif had a net margin of 7.53% and a return on equity of 25.66%. The company’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 EPS. Equities research analysts forecast that Greif, Inc. will post 5.15 EPS for the current year.

Greif Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, April 1st. Shareholders of record on Friday, March 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Thursday, March 16th. Greif’s payout ratio is 26.11%.

Greif Company Profile

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Greif, Inc engages in the production of industrial packaging products and services. It operates through the following segments: Global Industrial Packaging, Paper Packaging & Services, and Land Management. The Global Industrial Packaging segment involves the production of industrial packaging products, such as steel, fiber & plastic drums, rigid & flexible intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles, and remanufactured & reconditioned industrial containers.