Municipal Employees Retirement System of Michigan cut its position in shares of Greif Bros. Corporation (NYSE:GEF) by 18.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,750 shares of the industrial products company’s stock after selling 2,150 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Greif Bros. Corporation were worth $544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hennessy Advisors Inc. acquired a new position in shares of Greif Bros. Corporation during the first quarter worth $3,713,000. Invictus RG boosted its position in shares of Greif Bros. Corporation by 2.5% in the first quarter. Invictus RG now owns 6,409 shares of the industrial products company’s stock worth $353,000 after buying an additional 156 shares during the period. OppenheimerFunds Inc. boosted its position in shares of Greif Bros. Corporation by 25.3% in the first quarter. OppenheimerFunds Inc. now owns 16,223 shares of the industrial products company’s stock worth $894,000 after buying an additional 3,272 shares during the period. State Treasurer State of Michigan boosted its position in shares of 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 worth $578,000 after buying an additional 100 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Greif Bros. Corporation by 22.5% in the first quarter. Ameriprise Financial Inc. now owns 290,660 shares of the industrial products company’s stock worth $16,015,000 after buying an additional 53,429 shares during the period. Hedge funds and other institutional investors own 48.84% of the company’s stock.

Greif Bros. Corporation (NYSE GEF) opened at 56.05 on Monday. The company has a 50-day moving average of $56.47 and a 200-day moving average of $56.46. The stock has a market cap of $2.68 billion, a P/E ratio of 27.91 and a beta of 1.37. Greif Bros. Corporation has a 52 week low of $40.77 and a 52 week high of $63.04.

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

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A number of research analysts recently weighed in on GEF shares. Zacks Investment Research upgraded shares of Greif Bros. Corporation from a “sell” rating to a “hold” rating in a report on Friday, May 26th. KeyCorp reiterated a “sell” rating and issued a $47.00 price target on shares of Greif Bros. Corporation in a research note on Thursday, June 8th. Robert W. Baird reiterated an “outperform” rating and issued a $63.00 price target on shares of Greif Bros. Corporation in a research note on Sunday, June 11th. ValuEngine upgraded shares of Greif Bros. Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $55.00 price target on shares of Greif Bros. Corporation in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $56.50.

In other news, major shareholder Shannon J. Diener acquired 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 completion of the transaction, the insider now directly owns 10,189 shares of the company’s stock, valued at $635,487.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.37% of the stock is owned by company 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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