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Romano Brothers AND Company Makes New Investment in Greif, Inc. (NYSE:GEF)

Defense World · Dec 27, 2022 05:31

Romano Brothers AND Company bought a new position in shares of Greif, Inc. (NYSE:GEF – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,050 shares of the industrial products company's stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new stake in shares of Greif in the third quarter valued at about $625,000. Exchange Traded Concepts LLC bought a new stake in shares of Greif in the third quarter valued at about $29,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Greif by 2.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 18,973 shares of the industrial products company's stock valued at $1,184,000 after purchasing an additional 540 shares in the last quarter. Centiva Capital LP lifted its holdings in shares of Greif by 193.2% in the second quarter. Centiva Capital LP now owns 9,200 shares of the industrial products company's stock valued at $574,000 after purchasing an additional 6,062 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Greif by 13.5% in the second quarter. AQR Capital Management LLC now owns 674,487 shares of the industrial products company's stock valued at $41,440,000 after purchasing an additional 80,186 shares in the last quarter. 47.25% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other Greif news, CFO Lawrence A. Hilsheimer bought 2,180 shares of the business's stock in a transaction on Wednesday, December 21st. The stock was purchased at an average cost of $76.78 per share, for a total transaction of $167,380.40. Following the completion of the purchase, the chief financial officer now directly owns 91,552 shares of the company's stock, valued at $7,029,362.56. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Greif news, CFO Lawrence A. Hilsheimer bought 2,180 shares of the business's stock in a transaction on Wednesday, December 21st. The stock was purchased at an average cost of $76.78 per share, for a total transaction of $167,380.40. Following the completion of the purchase, the chief financial officer now directly owns 91,552 shares of the company's stock, valued at $7,029,362.56. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Nicholas Joseph Petitti sold 4,615 shares of the stock in a transaction on Monday, October 24th. The shares were sold at an average price of $71.62, for a total value of $330,526.30. Following the completion of the transaction, the insider now owns 2,275,005 shares of the company's stock, valued at $162,935,858.10. The disclosure for this sale can be found here. Insiders sold 41,716 shares of company stock worth $3,019,077 over the last three months. Insiders own 2.59% of the company's stock.

Analyst Upgrades and Downgrades

GEF has been the topic of a number of research reports. Bank of America lowered Greif from a "buy" rating to an "underperform" rating and cut their price target for the company from $80.00 to $67.00 in a report on Thursday, October 13th. Stifel Nicolaus initiated coverage on Greif in a report on Friday, September 2nd. They set a "buy" rating and a $90.00 target price on the stock. BMO Capital Markets downgraded Greif from a "market perform" rating to an "underperform" rating and lowered their price target for the stock from $72.00 to $62.00 in a research report on Sunday, October 30th. Wells Fargo & Company boosted their price target on Greif from $63.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 30th. Finally, StockNews.com raised Greif from a "buy" rating to a "strong-buy" rating in a research report on Friday, December 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $72.00.

Greif Trading Up 2.2 %

Shares of NYSE:GEF opened at $68.15 on Tuesday. The company has a market capitalization of $3.23 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.09 and a beta of 0.97. Greif, Inc. has a 1 year low of $53.65 and a 1 year high of $74.22. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.43 and a quick ratio of 1.05. The business's 50 day simple moving average is $68.86 and its 200 day simple moving average is $66.42.

Greif Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, December 15th. Greif's payout ratio is presently 31.75%.

Greif Company Profile

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Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. 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.