Envestnet Portfolio Solutions Inc. Increases Holdings in Greif, Inc. (NYSE:GEF)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Greif, Inc. (NYSE:GEF) by 31.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,452 shares of the industrial products company’s stock after purchasing an additional 1,320 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Greif were worth $333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Greif by 9.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 524,637 shares of the industrial products company’s stock valued at $32,874,000 after buying an additional 44,473 shares in the last quarter. Moran Wealth Management LLC bought a new position in shares of Greif during the fourth quarter worth $2,594,000. Systematic Financial Management LP grew its stake in Greif by 15.5% during the third quarter. Systematic Financial Management LP now owns 302,552 shares of the industrial products company’s stock valued at $18,958,000 after acquiring an additional 40,494 shares in the last quarter. Stifel Financial Corp increased its holdings in Greif by 97.0% in the 3rd quarter. Stifel Financial Corp now owns 34,045 shares of the industrial products company’s stock valued at $2,133,000 after acquiring an additional 16,759 shares during the last quarter. Finally, Zacks Investment Management purchased a new stake in Greif in the 3rd quarter worth $610,000. Institutional investors own 45.74% of the company’s stock.

Greif Stock Up 0.8 %

Shares of GEF opened at $56.04 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average of $58.96 and a 200 day moving average of $62.26. The company has a market cap of $2.66 billion, a PE ratio of 12.40, a P/E/G ratio of 1.02 and a beta of 0.91. Greif, Inc. has a 52-week low of $53.43 and a 52-week high of $73.16.

Greif (NYSE:GEF) last released its earnings results on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.33). The firm 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%. On average, sell-side analysts expect that Greif, Inc. will post 4.11 EPS for the current year.

Greif Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.16 annualized dividend and a dividend yield of 3.85%. Greif’s payout ratio is 61.71%.

Analysts Set New Price Targets

GEF has been the subject of a number of research analyst reports. Robert W. Baird cut their price objective on Greif from $75.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Truist Financial reaffirmed a “hold” rating and issued a $65.00 price objective (down previously from $71.00) on shares of Greif in a research note on Monday, March 3rd. Bank of America lowered their target price on Greif from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price target on shares of Greif from $76.00 to $75.00 and set an “overweight” rating on the stock 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.00.

Insider Buying and Selling

In related news, EVP Bala Sathyanarayanan sold 748 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $60.21, for a total value of $45,037.08. Following the transaction, the executive vice president now owns 32,729 shares of the company’s stock, valued at $1,970,613.09. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Emkes acquired 3,000 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $55.89 per share, with a total value of $167,670.00. Following the completion of the transaction, the director now 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 owned by corporate 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.