Greif (NYSE:GEF) Sets New 12-Month Low After Earnings Miss

Greif, Inc. (NYSE:GEF) shares hit a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $54.93 and last traded at $55.84, with a volume of 38419 shares changing hands. The stock had previously closed at $60.35.

The industrial products company reported $0.39 earnings per share (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 company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion.

Greif Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Monday, March 17th. Greif’s payout ratio is currently 47.79%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America reduced their target price on shares of Greif from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Robert W. Baird lifted their price objective on Greif from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Truist Financial raised 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. Finally, Sidoti began coverage on Greif in a research note on Wednesday, November 20th. They set a “buy” rating and a $93.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.33.

Insider Activity at Greif

In related news, Director B Andrew Rose bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $70.20 per share, for a total transaction of $245,700.00. Following the completion of the acquisition, the director now owns 3,500 shares of the company’s stock, valued at $245,700. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bala Sathyanarayanan sold 748 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $60.21, for a total value of $45,037.08. Following the completion of the transaction, the executive vice president now owns 32,729 shares in the company, valued at approximately $1,970,613.09. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 6,225 shares of company stock valued at $431,731 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Deprince Race & Zollo Inc. purchased a new position in Greif during the fourth quarter valued at approximately $46,279,000. Point72 Asset Management L.P. raised its holdings in Greif by 7,222.6% during the fourth quarter. Point72 Asset Management L.P. now owns 233,370 shares of the industrial products company’s stock valued at $14,264,000 after acquiring an additional 230,183 shares during the period. Norges Bank bought a new stake in shares of Greif during the fourth quarter valued at approximately $4,219,000. Ameriprise Financial Inc. increased its stake in Greif by 25.3% in the 4th quarter. Ameriprise Financial Inc. now owns 298,237 shares of the industrial products company’s stock worth $18,229,000 after acquiring an additional 60,313 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 acquiring an additional 44,473 shares during the last quarter. Institutional investors own 45.74% of the company’s stock.

Greif Stock Performance

The business’s fifty day moving average is $60.81 and its two-hundred day moving average is $63.06. The stock has a market capitalization of $2.61 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 1.26.

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.