Cadence Wealth Management LLC Buys 193 Shares of Greif, Inc. (NYSE:GEF)

Cadence Wealth Management LLC increased its holdings in shares of Greif, Inc. (NYSE:GEF) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,999 shares of the industrial products company’s stock after purchasing an additional 193 shares during the period. Cadence Wealth Management LLC’s holdings in Greif were worth $262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bfsg LLC bought a new position in shares of Greif during the fourth quarter valued at approximately $176,000. Kestra Advisory Services LLC bought a new position in shares of Greif during the third quarter valued at approximately $213,000. Meritage Portfolio Management boosted its stake in shares of Greif by 5.3% during the third quarter. Meritage Portfolio Management now owns 3,423 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 173 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Greif during the fourth quarter valued at approximately $229,000. Finally, Jackson Square Capital LLC purchased a new stake in Greif during the third quarter valued at approximately $244,000. 45.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GEF shares. StockNews.com raised shares of Greif from a “hold” rating to a “buy” rating in a research report on Monday, January 1st. Truist Financial started coverage on shares of Greif in a research report on Thursday, April 18th. They set a “hold” rating and a $71.00 target price for the company. Finally, Wells Fargo & Company raised shares of Greif from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $64.00 to $75.00 in a research report on Thursday, January 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Greif has an average rating of “Moderate Buy” and an average price target of $77.25.

Greif Stock Performance

Shares of NYSE GEF traded up $0.38 during midday trading on Friday, reaching $61.92. The company had a trading volume of 99,003 shares, compared to its average volume of 191,696. The business’s 50-day simple moving average is $64.18 and its 200 day simple moving average is $64.70. The stock has a market cap of $2.92 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.55 and a beta of 0.87. Greif, Inc. has a 1 year low of $59.37 and a 1 year high of $76.00. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 1.09.

Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, February 28th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $1.07. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $1.06 earnings per share. On average, analysts forecast that Greif, Inc. will post 4 earnings per share for the current fiscal year.

Greif Announces Dividend

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

Insider Buying and Selling

In related news, SVP Timothy Bergwall sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.05, for a total transaction of $126,100.00. Following the completion of the transaction, the senior vice president now owns 62,392 shares of the company’s stock, valued at $3,933,815.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Treasurer Anthony John Krabill purchased 745 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $63.12 per share, for a total transaction of $47,024.40. Following the completion of the transaction, the treasurer now owns 1,651 shares in the company, valued at $104,211.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy Bergwall sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.05, for a total transaction of $126,100.00. Following the sale, the senior vice president now owns 62,392 shares in the company, valued at approximately $3,933,815.60. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 42,934 shares of company stock valued at $2,864,352 and sold 6,000 shares valued at $384,620. 3.07% of the stock is currently owned by corporate insiders.

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.