Summit Financial Strategies Inc. Sells 330 Shares of Greif, Inc. (NYSE:GEF)

Summit Financial Strategies Inc. reduced its stake in Greif, Inc. (NYSE:GEF) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,563 shares of the industrial products company’s stock after selling 330 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Greif were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC lifted its stake in shares of Greif by 3.2% in the third quarter. Verdence Capital Advisors LLC now owns 5,195 shares of the industrial products company’s stock worth $326,000 after buying an additional 163 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Greif by 7.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,068 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 200 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Greif by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,049 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 222 shares during the period. Quarry LP boosted its holdings in Greif by 71.9% in the second quarter. Quarry LP now owns 545 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 228 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new stake in Greif in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 45.74% of the company’s stock.

Insider Buying and Selling at Greif

In other news, Director B Andrew Rose bought 3,500 shares of the stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $70.20 per share, for a total transaction of $245,700.00. Following the transaction, the director now owns 3,500 shares of the company’s stock, valued at $245,700. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bala Sathyanarayanan sold 748 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $60.21, for a total transaction of $45,037.08. Following the completion of the sale, the executive vice president now owns 32,729 shares in the company, valued at $1,970,613.09. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 6,225 shares of company stock worth $431,731. Insiders own 7.60% of the company’s stock.

Greif Stock Up 0.3 %

Shares of GEF stock opened at $61.69 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.53 and a quick ratio of 1.13. The company’s fifty day moving average price is $64.48 and its 200-day moving average price is $63.33. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.99 and a beta of 0.95. Greif, Inc. has a one year low of $55.95 and a one year high of $73.16.

Greif (NYSE:GEF) last released its earnings results on Wednesday, December 4th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.23). Greif had a return on equity of 11.84% and a net margin of 4.81%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business posted $1.56 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Greif, Inc. will post 4.22 EPS for the current fiscal year.

Greif Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Monday, December 16th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, December 16th. This represents a $2.16 annualized dividend and a yield of 3.50%. Greif’s payout ratio is 47.79%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial lifted their price objective on Greif from $67.00 to $71.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Robert W. Baird raised their price objective on shares of Greif from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Sidoti began coverage on shares of Greif in a report on Wednesday, November 20th. They set a “buy” rating and a $93.00 target price for the company. Finally, Bank of America dropped their price target on shares of Greif from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.33.

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.