Allspring Global Investments Holdings LLC Reduces Holdings in Greif, Inc. (NYSE:GEF)

Allspring Global Investments Holdings LLC trimmed its position in shares of Greif, Inc. (NYSE:GEFGet Rating) by 11.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,276 shares of the industrial products company’s stock after selling 790 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Greif were worth $373,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in GEF. HighTower Advisors LLC purchased a new stake in shares of Greif during the first quarter worth approximately $1,648,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Greif by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,731 shares of the industrial products company’s stock worth $633,000 after purchasing an additional 928 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Greif by 1.9% during the first quarter. Yousif Capital Management LLC now owns 13,901 shares of the industrial products company’s stock worth $904,000 after purchasing an additional 260 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Greif by 16.8% during the first quarter. Prudential Financial Inc. now owns 202,618 shares of the industrial products company’s stock worth $13,183,000 after purchasing an additional 29,187 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Greif by 52.8% during the first quarter. First Trust Advisors LP now owns 99,060 shares of the industrial products company’s stock worth $6,445,000 after purchasing an additional 34,220 shares in the last quarter. 47.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Nicholas Joseph Petitti sold 4,537 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $73.15, for a total value of $331,881.55. Following the transaction, the insider now owns 2,256,661 shares of the company’s stock, valued at approximately $165,074,752.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Lawrence A. Hilsheimer bought 2,180 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were purchased at an average price of $76.78 per share, with a total value of $167,380.40. Following the purchase, the chief financial officer now owns 91,552 shares in the company, valued at $7,029,362.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Nicholas Joseph Petitti sold 4,537 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $73.15, for a total value of $331,881.55. Following the transaction, the insider now directly owns 2,256,661 shares in the company, valued at approximately $165,074,752.15. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 6,292 shares of company stock valued at $491,967 and have sold 32,676 shares valued at $2,350,467. Corporate insiders own 7.60% of the company’s stock.

Greif Stock Performance

Shares of Greif stock opened at $68.06 on Wednesday. Greif, Inc. has a 52 week low of $53.65 and a 52 week high of $74.22. The business’s fifty day simple moving average is $69.06 and its 200-day simple moving average is $67.41. The firm has a market cap of $3.22 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 1.03.

Greif (NYSE:GEFGet Rating) last announced its quarterly earnings results on Wednesday, December 7th. The industrial products company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.14). Greif had a net margin of 5.93% and a return on equity of 27.69%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.59 billion. Equities analysts forecast that Greif, Inc. will post 6.22 earnings per share for the current year.

Greif Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Friday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Thursday, December 15th. Greif’s dividend payout ratio (DPR) is presently 31.75%.

Analysts Set New Price Targets

Several analysts recently commented on GEF shares. Wells Fargo & Company boosted their price target on Greif from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 30th. Bank of America cut Greif from a “buy” rating to an “underperform” rating and dropped their target price for the company from $80.00 to $67.00 in a report on Thursday, October 13th. BMO Capital Markets cut Greif from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $72.00 to $62.00 in a report on Sunday, October 30th. Finally, StockNews.com upgraded Greif from a “buy” rating to a “strong-buy” rating in a report on Friday, December 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.00.

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.

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Institutional Ownership by Quarter for Greif (NYSE:GEF)

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