New York State Teachers Retirement System Lowers Position in Greif Bros. Corporation (NYSE:GEF)

New York State Teachers Retirement System reduced its stake in shares of Greif Bros. Corporation (NYSE:GEF) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the industrial products company’s stock after selling 1,900 shares during the period. New York State Teachers Retirement System owned about 0.13% of Greif Bros. Corporation worth $3,416,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale increased its position in Greif Bros. Corporation by 7.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,848 shares of the industrial products company’s stock valued at $157,000 after buying an additional 200 shares in the last quarter. American Century Companies Inc. increased its position in Greif Bros. Corporation by 32.9% in the first quarter. American Century Companies Inc. now owns 137,963 shares of the industrial products company’s stock valued at $7,600,000 after buying an additional 34,169 shares during the period. Algert Global LLC increased its position in Greif Bros. Corporation by 8.5% in the first quarter. Algert Global LLC now owns 46,111 shares of the industrial products company’s stock valued at $2,540,000 after buying an additional 3,609 shares during the period. First Trust Advisors LP increased its position in Greif Bros. Corporation by 49.0% in the first quarter. First Trust Advisors LP now owns 21,874 shares of the industrial products company’s stock valued at $1,205,000 after buying an additional 7,191 shares during the period. Finally, State Treasurer State of Michigan increased its position in Greif Bros. Corporation by 1.0% in the first quarter. State Treasurer State of Michigan now owns 10,500 shares of the industrial products company’s stock valued at $578,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 49.31% of the company’s stock.

Shares of Greif Bros. Corporation (NYSE:GEF) opened at 56.88 on Thursday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 28.33 and a beta of 1.37. The firm’s 50-day moving average is $56.78 and its 200-day moving average is $55.80. Greif Bros. Corporation has a 52 week low of $37.47 and a 52 week high of $63.04.

Greif Bros. Corporation (NYSE:GEF) last posted its earnings results on Wednesday, June 7th. The industrial products company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.07. The company had revenue of $887.40 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. Equities analysts anticipate that Greif Bros. Corporation will post $2.89 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Monday, June 19th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Thursday, June 15th. Greif Bros. Corporation’s payout ratio is presently 103.07%.

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GEF has been the topic of several research reports. Zacks Investment Research upgraded shares of Greif Bros. Corporation from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. BidaskClub upgraded shares of Greif Bros. Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets restated a “hold” rating and issued a $53.00 price target on shares of Greif Bros. Corporation in a research note on Friday, April 21st. ValuEngine upgraded shares of Greif Bros. Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, KeyCorp restated a “sell” rating and issued a $47.00 price target on shares of Greif Bros. Corporation in a research note on Thursday, June 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $56.17.

In related news, major shareholder Shannon J. Diener bought 5,189 shares of Greif Bros. Corporation stock in a transaction on Thursday, July 6th. The stock was acquired at an average price of $62.37 per share, with a total value of $323,637.93. Following the acquisition, the insider now directly owns 10,189 shares of the company’s stock, valued at $635,487.93. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.79% of the stock is owned by insiders.

About Greif Bros. Corporation

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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