State of New Jersey Common Pension Fund D Purchases 3,372 Shares of Greif, Inc. (NYSE:GEF)

State of New Jersey Common Pension Fund D lifted its holdings in Greif, Inc. (NYSE:GEF) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,262 shares of the industrial products company’s stock after buying an additional 3,372 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.08% of Greif worth $2,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEF. Bfsg LLC purchased a new position in Greif during the 4th quarter worth $176,000. Kestra Advisory Services LLC purchased a new stake in Greif in the 3rd quarter worth approximately $213,000. Meritage Portfolio Management grew its position in 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 buying an additional 173 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Greif during the 4th quarter valued at about $229,000. Finally, Jackson Square Capital LLC acquired a new stake in Greif in the third quarter valued at approximately $244,000. Hedge funds and other institutional investors own 45.74% of the company’s stock.

Insider Buying and Selling at Greif

In other news, SVP Timothy Bergwall sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was 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 directly owns 62,392 shares of the company’s stock, valued at approximately $3,933,815.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Gary R. Martz acquired 1,925 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were bought at an average price of $68.86 per share, with a total value of $132,555.50. Following the completion of the acquisition, the vice president now owns 10,025 shares in the company, valued at $690,321.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Timothy Bergwall sold 2,000 shares of the company’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 approximately $3,933,815.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 42,934 shares of company stock worth $2,864,352 and have sold 6,000 shares worth $384,620. 3.07% of the stock is owned by insiders.

Analyst Ratings Changes

GEF has been the subject of several research reports. Wells Fargo & Company raised shares of Greif from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $64.00 to $75.00 in a research note on Thursday, January 11th. Truist Financial began coverage on shares of Greif in a report on Thursday, April 18th. They issued a “hold” rating and a $71.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued 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 price target of $77.25.

Greif Trading Up 0.1 %

Shares of GEF stock opened at $61.35 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.16 and a current ratio of 1.57. Greif, Inc. has a fifty-two week low of $59.37 and a fifty-two week high of $76.00. The stock has a market capitalization of $2.89 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 1.55 and a beta of 0.87. The company has a 50 day moving average price of $64.16 and a 200 day moving average price of $64.66.

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

Greif Dividend Announcement

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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, March 15th. Greif’s dividend payout ratio (DPR) is presently 35.99%.

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.