Insider Selling: Greif (NYSE:GEF) SVP Sells $166,280.00 in Stock

Greif, Inc. (NYSE:GEF) SVP Timothy Bergwall sold 2,000 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $83.14, for a total value of $166,280.00. Following the transaction, the senior vice president directly owned 53,832 shares in the company, valued at $4,475,592.48. The trade was a 3.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Timothy Bergwall also recently made the following trade(s):

• On Monday, August 10th, Timothy Bergwall sold 2,000 shares of Greif stock. The shares were sold at an average price of $87.06, for a total value of $174,120.00.
• On Monday, August 3rd, Timothy Bergwall sold 6,000 shares of Greif stock. The stock was sold at an average price of $85.26, for a total transaction of $511,560.00.
• On Friday, July 10th, Timothy Bergwall sold 2,000 shares of Greif stock. The stock was sold at an average price of $73.14, for a total transaction of $146,280.00.

Greif Trading Up 1.6%

NYSE GEF opened at $82.77 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.29. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 0.72 and a beta of 0.74. The company’s 50-day simple moving average is $83.00 and its two-hundred day simple moving average is $73.08. Greif, Inc. has a one year low of $55.75 and a one year high of $90.57.

Greif (NYSE:GEF) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.50. Greif had a net margin of 7.53% and a return on equity of 8.09%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Greif, Inc. will post 4.3 EPS for the current fiscal year.

Greif Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, September 17th. This represents a $2.48 dividend on an annualized basis and a yield of 3.0%. Greif’s dividend payout ratio is currently 77.74%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEF. Bank of America lowered Greif from a “neutral” rating to an “underperform” rating and set a $70.00 price target for the company. in a research report on Tuesday, July 14th. Weiss Ratings raised Greif from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded Greif from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Wells Fargo & Company boosted their target price on shares of Greif from $74.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Truist Financial reissued a “hold” rating and set a $97.00 price target (up from $78.00) on shares of Greif in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Greif currently has a consensus rating of “Hold” and a consensus target price of $83.00.

Institutional Trading of Greif

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its position in Greif by 106.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 616 shares of the industrial products company’s stock valued at $42,000 after buying an additional 317 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Greif by 33.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 689 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 172 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Greif during the first quarter valued at about $201,000. Wedbush Securities Inc. purchased a new position in shares of Greif in the 2nd quarter valued at approximately $218,000. Finally, DGS Capital Management LLC acquired a new stake in Greif in the 4th quarter worth approximately $247,000. Institutional investors and hedge funds own 45.74% of the company’s stock.

About Greif

Greif, Inc (NYSE: GEF) is a global packaging company that produces and sells industrial packaging products and paper-based packaging materials. Its offerings include fiber, steel and plastic drums; intermediate bulk containers; containerboard and corrugated products; paperboard tubes and cores; and related closure systems and services.

The company serves customers in industries such as chemicals, food and beverage, agriculture, pharmaceuticals, petroleum, and other industrial markets. Greif’s packaging products are designed to help customers transport, protect and store bulk materials, while its paper and corrugated products support a broad range of commercial and industrial applications.

Greif traces its history to 1877, when it was founded as a cooperage business in Cleveland, Ohio.