Thrivent Financial for Lutherans Boosts Stake in Greif, Inc. (NYSE:GEF)

Thrivent Financial for Lutherans boosted its stake in shares of Greif, Inc. (NYSE:GEF) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 801,429 shares of the industrial products company’s stock after buying an additional 17,425 shares during the period. Thrivent Financial for Lutherans’ holdings in Greif were worth $48,983,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Greif by 8.4% during 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 last quarter. William Blair Investment Management LLC lifted its holdings in shares of Greif by 2.1% during the 4th quarter. William Blair Investment Management LLC now owns 535,932 shares of the industrial products company’s stock valued at $32,756,000 after purchasing an additional 11,210 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of Greif by 15.5% during the 3rd quarter. Systematic Financial Management LP now owns 302,552 shares of the industrial products company’s stock valued at $18,958,000 after purchasing an additional 40,494 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Greif by 0.9% during the 4th quarter. Principal Financial Group Inc. now owns 69,900 shares of the industrial products company’s stock valued at $4,272,000 after purchasing an additional 653 shares during the last quarter. Finally, Moran Wealth Management LLC purchased a new stake in shares of Greif during the 4th quarter valued at $2,594,000. Hedge funds and other institutional investors own 45.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GEF shares. Truist Financial reiterated a “hold” rating and set a $65.00 price objective (down previously from $71.00) on shares of Greif in a report on Monday, March 3rd. Bank of America reduced their target price on Greif from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company reduced their target price on Greif from $76.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Sidoti assumed coverage on Greif in a research note on Wednesday, November 20th. They issued a “buy” rating and a $93.00 target price for the company. Finally, Robert W. Baird reduced their target price on Greif from $75.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Insiders Place Their Bets

In other Greif news, Director B Andrew Rose bought 3,500 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $70.20 per share, for a total transaction of $245,700.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $245,700. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Lawrence A. Hilsheimer bought 1,100 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $67.61 per share, for a total transaction of $74,371.00. Following the completion of the transaction, the chief financial officer now directly owns 163,251 shares in the company, valued at approximately $11,037,400.11. This trade represents a 0.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,225 shares of company stock valued at $657,901. Company insiders own 7.60% of the company’s stock.

Greif Price Performance

Shares of GEF opened at $56.52 on Thursday. The business’s 50-day moving average is $59.46 and its two-hundred day moving average is $62.50. The company has a market capitalization of $2.68 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.53. Greif, Inc. has a fifty-two week low of $53.43 and a fifty-two week high of $73.16.

Greif (NYSE:GEF) last announced its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.33). The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Greif had a return on equity of 11.84% and a net margin of 4.81%. Research analysts predict that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Dividend Announcement

The business 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 annualized dividend and a yield of 3.82%. The ex-dividend date is Monday, March 17th. Greif’s dividend payout ratio is currently 61.71%.

Greif Company 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.