Meritage Portfolio Management Grows Stake in Greif, Inc. (NYSE:GEF)

Meritage Portfolio Management lifted its stake in Greif, Inc. (NYSE:GEF) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,609 shares of the industrial products company’s stock after buying an additional 186 shares during the period. Meritage Portfolio Management’s holdings in Greif were worth $237,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Knights of Columbus Asset Advisors LLC lifted its position in shares of Greif by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 78,654 shares of the industrial products company’s stock worth $5,159,000 after purchasing an additional 38,229 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Greif during the fourth quarter valued at about $2,943,000. Avantax Advisory Services Inc. increased its position in shares of Greif by 4.1% during the third quarter. Avantax Advisory Services Inc. now owns 4,445 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 174 shares during the last quarter. Versor Investments LP lifted its stake in shares of Greif by 338.1% in the third quarter. Versor Investments LP now owns 20,733 shares of the industrial products company’s stock worth $1,385,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in Greif by 8.1% in the third quarter. Gotham Asset Management LLC now owns 7,054 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 530 shares during the last quarter. Institutional investors and hedge funds own 45.74% of the company’s stock.

Greif Stock Performance

Shares of NYSE GEF opened at $61.94 on Friday. Greif, Inc. has a 1 year low of $59.37 and a 1 year high of $76.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.16 and a current ratio of 1.57. The stock has a fifty day moving average price of $64.18 and a two-hundred day moving average price of $64.71. The firm has a market cap of $2.92 billion, a P/E ratio of 10.72, a PEG ratio of 1.54 and a beta of 0.87.

Greif (NYSE:GEF) last released its earnings results on Wednesday, February 28th. The industrial products company reported $1.27 EPS for the quarter, beating the consensus estimate of $0.20 by $1.07. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Greif had a net margin of 6.53% and a return on equity of 18.65%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. Research analysts forecast that Greif, Inc. will post 4 EPS for the current fiscal year.

Greif Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Friday, March 15th. Greif’s dividend payout ratio is currently 35.99%.

Wall Street Analyst Weigh In

GEF has been the subject of a number of research analyst reports. Truist Financial started coverage on shares of Greif in a research note on Thursday, April 18th. They issued a “hold” rating and a $71.00 price target for the company. StockNews.com upgraded shares of Greif from a “hold” rating to a “buy” rating in a research note on Monday, January 1st. Finally, Wells Fargo & Company upgraded Greif from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $64.00 to $75.00 in a research note on Thursday, January 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.25.

Insiders Place Their Bets

In related news, Treasurer Anthony John Krabill acquired 745 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average price of $63.12 per share, for a total transaction of $47,024.40. Following the purchase, the treasurer now owns 1,651 shares in the company, valued at $104,211.12. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Gary R. Martz bought 4,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were bought at an average cost of $68.98 per share, for a total transaction of $275,920.00. Following the completion of the acquisition, the vice president now directly owns 17,018 shares in the company, valued at $1,173,901.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Treasurer Anthony John Krabill acquired 745 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average cost of $63.12 per share, for a total transaction of $47,024.40. Following the completion of the purchase, the treasurer now directly owns 1,651 shares in the company, valued at approximately $104,211.12. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 42,934 shares of company stock worth $2,864,352 and sold 6,000 shares worth $384,620. Corporate insiders own 3.07% of the company’s stock.

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.