UBS Asset Management Americas Inc. raised its stake in shares of Greif Bros. Corporation (NYSE:GEF) by 44.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 17,291 shares of the industrial products company’s stock after buying an additional 5,335 shares during the period. UBS Asset Management Americas Inc.’s holdings in Greif Bros. Corporation were worth $953,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of GEF. State Treasurer State of Michigan boosted 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. Oregon Public Employees Retirement Fund boosted its position in Greif Bros. Corporation by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 8,877 shares of the industrial products company’s stock valued at $489,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its position in Greif Bros. Corporation by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 6,500 shares of the industrial products company’s stock valued at $358,000 after buying an additional 100 shares during the period. Alpha Windward LLC boosted its position in Greif Bros. Corporation by 1.4% in the first quarter. Alpha Windward LLC now owns 8,400 shares of the industrial products company’s stock valued at $463,000 after buying an additional 120 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted 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 during the period. 49.31% of the stock is currently owned by hedge funds and other institutional investors.
Greif Bros. Corporation (GEF) opened at 56.02 on Wednesday. The company has a market capitalization of $2.68 billion, a P/E ratio of 27.90 and a beta of 1.37. Greif Bros. Corporation has a one year low of $38.35 and a one year high of $63.04. The stock’s 50 day moving average price is $56.78 and its 200-day moving average price is $55.80.
Greif Bros. Corporation (NYSE:GEF) last posted its quarterly earnings data 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. Greif Bros. Corporation had a return on equity of 16.17% and a net margin of 2.81%. The business had revenue of $887.40 million during the quarter, compared to analyst estimates of $891.22 million. During the same period in the previous year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts forecast that Greif Bros. Corporation will post $2.89 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Monday, June 19th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.00%. Greif Bros. Corporation’s dividend payout ratio is currently 103.07%.
Several equities research analysts recently weighed in on GEF shares. Bank of America Corporation set a $60.00 price target on Greif Bros. Corporation and gave the company a “buy” rating in a research report on Saturday, June 10th. BMO Capital Markets restated a “hold” rating and set a $55.00 price target on shares of Greif Bros. Corporation in a research report on Sunday. BidaskClub upgraded Greif Bros. Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Robert W. Baird restated an “outperform” rating and set a $63.00 price target on shares of Greif Bros. Corporation in a research report on Sunday, June 11th. Finally, ValuEngine upgraded Greif Bros. Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Greif Bros. Corporation has an average rating of “Hold” and an average target price of $56.50.
In other news, major shareholder Shannon J. Diener purchased 5,189 shares of the stock in a transaction on Thursday, July 6th. The stock was bought at an average price of $62.37 per share, with a total value of $323,637.93. Following the transaction, the insider now owns 10,189 shares in the company, valued at approximately $635,487.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.37% of the company’s stock.
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.
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