Point72 Asset Management L.P. Purchases 230,183 Shares of Greif, Inc. (NYSE:GEF)

Point72 Asset Management L.P. raised its position in Greif, Inc. (NYSE:GEF) by 7,222.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233,370 shares of the industrial products company’s stock after purchasing an additional 230,183 shares during the quarter. Point72 Asset Management L.P. owned 0.49% of Greif worth $14,264,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Avior Wealth Management LLC bought a new position in Greif in the fourth quarter valued at about $31,000. Quarry LP bought a new position in Greif in the fourth quarter valued at about $53,000. Principal Securities Inc. raised its position in Greif by 28.2% in the fourth quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 537 shares during the last quarter. Nomura Holdings Inc. bought a new position in Greif in the fourth quarter valued at about $209,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Greif in the fourth quarter valued at about $237,000. 45.74% of the stock is currently owned by institutional investors.

Greif Price Performance

Shares of GEF opened at $56.67 on Friday. Greif, Inc. has a 1 year low of $48.23 and a 1 year high of $73.16. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.53 and a quick ratio of 1.13. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The business has a 50-day moving average of $53.79 and a 200-day moving average of $59.85.

Greif (NYSE:GEF) last released its earnings results on Wednesday, February 26th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.33). Greif had a return on equity of 11.84% and a net margin of 4.81%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. As a group, equities research analysts anticipate that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, March 17th. This represents a $2.16 annualized dividend and a yield of 3.81%. Greif’s dividend payout ratio is currently 61.71%.

Insider Buying and Selling

In other news, Director Frank Calhoun V. Miller acquired 1,000 shares of Greif stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $58.50 per share, with a total value of $58,500.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $58,500. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David C. Lloyd sold 2,263 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 directly owns 7,580 shares of the company’s stock, valued at $418,719.20. This trade represents a 22.99% decrease in their position. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GEF. Wells Fargo & Company lowered their price objective on Greif from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Truist Financial lowered their price objective on Greif from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Finally, Robert W. Baird lowered 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. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Greif has a consensus rating of “Moderate Buy” and an average price target of $75.50.

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.