The Manufacturers Life Insurance Company Has $1.65 Million Stock Holdings in Greif, Inc. (NYSE:GEF)

The Manufacturers Life Insurance Company cut its holdings in Greif, Inc. (NYSE:GEF) by 2.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,955 shares of the industrial products company’s stock after selling 600 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Greif were worth $1,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GEF. Norges Bank acquired a new position in shares of Greif in the 4th quarter valued at approximately $4,219,000. Charles Schwab Investment Management Inc. grew its position in shares of Greif by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 568,725 shares of the industrial products company’s stock valued at $34,760,000 after purchasing an additional 44,088 shares during the period. Moran Wealth Management LLC acquired a new position in shares of Greif in the 4th quarter valued at approximately $2,594,000. Envestnet Asset Management Inc. grew its position in shares of Greif by 34.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 94,019 shares of the industrial products company’s stock valued at $5,746,000 after purchasing an additional 24,300 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Greif in the 4th quarter valued at approximately $1,180,000. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Greif Trading Down 0.3%

Shares of Greif stock opened at $54.70 on Monday. Greif, Inc. has a 12-month low of $48.23 and a 12-month high of $73.16. The stock has a market cap of $2.59 billion, a P/E ratio of 12.10, a P/E/G 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. The business’s 50 day moving average is $53.78 and its 200-day moving average is $60.05.

Greif (NYSE:GEF) last announced its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.33). The company had revenue of $1.27 billion for 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%. Equities research analysts predict that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.

Greif Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Monday, March 17th. Greif’s payout ratio is presently 61.71%.

Insider Buying and Selling

In other Greif news, Director Mark A. Emkes bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $55.89 per share, with a total value of $167,670.00. Following the acquisition, the director now owns 44,257 shares of the company’s stock, valued at $2,473,523.73. The trade was a 7.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Calhoun V. Miller acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $58.50 per share, for a total transaction of $58,500.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at approximately $58,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on GEF shares. Truist Financial cut their target price on Greif from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird cut their target price on Greif from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company cut their target price on Greif from $76.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Greif currently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

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.