Twelve Points Wealth Management LLC Purchases 2,516 Shares of Greif, Inc. (NYSE:GEF)

Twelve Points Wealth Management LLC lifted its position in Greif, Inc. (NYSE:GEF) by 10.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,648 shares of the industrial products company’s stock after buying an additional 2,516 shares during the period. Twelve Points Wealth Management LLC owned about 0.06% of Greif worth $1,670,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its holdings in Greif by 59.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 753,812 shares of the industrial products company’s stock worth $43,321,000 after buying an additional 280,330 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Greif by 17.6% during the 2nd quarter. William Blair Investment Management LLC now owns 540,330 shares of the industrial products company’s stock valued at $31,053,000 after acquiring an additional 80,754 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Greif during the second quarter valued at approximately $4,012,000. AQR Capital Management LLC grew its position in Greif by 16.7% in the 2nd quarter. AQR Capital Management LLC now owns 372,040 shares of the industrial products company’s stock worth $21,381,000 after purchasing an additional 53,110 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Greif by 450.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 56,430 shares of the industrial products company’s stock valued at $3,243,000 after buying an additional 46,176 shares during the period. Hedge funds and other institutional investors own 45.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on GEF shares. Truist Financial reaffirmed a “hold” rating and issued a $67.00 price objective (down previously from $69.00) on shares of Greif in a report on Friday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price target on shares of Greif in a research report on Monday, August 26th. Bank of America decreased their price target on shares of Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. StockNews.com cut shares of Greif from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company lowered their target price on Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

Greif Trading Up 2.3 %

Shares of GEF stock opened at $64.90 on Thursday. The stock has a fifty day simple moving average of $61.70 and a two-hundred day simple moving average of $62.23. Greif, Inc. has a 52-week low of $55.95 and a 52-week high of $71.36. The firm has a market capitalization of $3.06 billion, a PE ratio of 13.96 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.28 and a current ratio of 1.70.

Greif (NYSE:GEF) last released its earnings results on Wednesday, August 28th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.14). Greif had a return on equity of 13.28% and a net margin of 4.99%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. On average, analysts predict that Greif, Inc. will post 4.2 EPS for the current fiscal year.

Greif Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were paid a $0.54 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.16 annualized dividend and a yield of 3.33%. This is a boost from Greif’s previous quarterly dividend of $0.52. Greif’s payout ratio is presently 46.45%.

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.