Greif Bros. Corporation (GEF) Stake Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in shares of Greif Bros. Corporation (NYSE:GEF) by 12.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,741 shares of the industrial products company’s stock after selling 664 shares during the period. Public Employees Retirement System of Ohio’s holdings in Greif Bros. Corporation were worth $261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEF. Systematic Financial Management LP boosted its position in shares of Greif Bros. Corporation by 1,032.2% in the first quarter. Systematic Financial Management LP now owns 357,270 shares of the industrial products company’s stock worth $19,682,000 after buying an additional 325,715 shares in the last quarter. Norges Bank purchased a new position in shares of Greif Bros. Corporation during the fourth quarter worth $15,520,000. Pictet Asset Management Ltd. bought a new stake in Greif Bros. Corporation during the first quarter worth approximately $7,071,000. FMR LLC boosted its stake in Greif Bros. Corporation by 10.2% in the first quarter. FMR LLC now owns 836,801 shares of the industrial products company’s stock worth $46,099,000 after buying an additional 77,400 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Greif Bros. Corporation during the first quarter worth approximately $3,713,000. Institutional investors and hedge funds own 48.84% of the company’s stock.

Shares of Greif Bros. Corporation (GEF) opened at 56.05 on Friday. The firm has a 50-day moving average price of $56.47 and a 200-day moving average price of $56.46. Greif Bros. Corporation has a 52 week low of $40.77 and a 52 week high of $63.04. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 27.91 and a beta of 1.37.

Greif Bros. Corporation (NYSE:GEF) last posted its quarterly earnings results on Wednesday, June 7th. The industrial products company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.07. The business had revenue of $887.40 million for the quarter, compared to analyst estimates of $891.22 million. Greif Bros. Corporation had a net margin of 2.81% and a return on equity of 16.17%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, equities analysts expect that Greif Bros. Corporation will post $2.89 earnings per share for the current fiscal year.

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A number of analysts recently commented on the company. BMO Capital Markets reiterated a “hold” rating and set a $55.00 price objective on shares of Greif Bros. Corporation in a research report on Thursday. Bank of America Corporation set a $60.00 price objective on Greif Bros. Corporation and gave the stock a “buy” rating in a research report on Saturday, June 10th. ValuEngine upgraded Greif Bros. Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. KeyCorp reiterated a “sell” rating and set a $47.00 price objective on shares of Greif Bros. Corporation in a research report on Thursday, June 8th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $63.00 price objective on shares of Greif Bros. Corporation in a research report on Sunday, June 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $56.50.

In other Greif Bros. Corporation news, major shareholder Shannon J. Diener purchased 5,189 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The shares were purchased at an average cost of $62.37 per share, with a total value of $323,637.93. Following the completion of the transaction, the insider now owns 10,189 shares of the company’s stock, valued at $635,487.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.79% of the stock is currently owned by insiders.

Greif Bros. Corporation Company Profile

Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.

Institutional Ownership by Quarter for Greif Bros. Corporation (NYSE:GEF)

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