Greif Bros. Corporation (NYSE:GEF) released its quarterly earnings results on Wednesday. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01, Bloomberg Earnings reports. Greif Bros. Corporation had a net margin of 2.81% and a return on equity of 16.17%. The company had revenue of $961.80 million during the quarter, compared to the consensus estimate of $901.76 million. During the same period in the prior year, the firm earned $0.91 earnings per share. Greif Bros. Corporation’s revenue was up 13.8% on a year-over-year basis. Greif Bros. Corporation updated its FY17 guidance to $2.81-2.95 EPS.

Greif Bros. Corporation (NYSE:GEF) opened at 57.69 on Thursday. The firm’s 50 day moving average is $56.50 and its 200-day moving average is $56.43. Greif Bros. Corporation has a 52 week low of $41.79 and a 52 week high of $63.04. The company has a market cap of $2.76 billion, a P/E ratio of 28.73 and a beta of 1.37.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 18th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, September 15th. Greif Bros. Corporation’s dividend payout ratio is 103.07%.

In other Greif Bros. Corporation news, major shareholder Shannon J. Diener bought 5,189 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were acquired at an average cost 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 approximately $635,487.93. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.79% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Greif Bros. Corporation by 0.7% in the first quarter. Wellington Management Group LLP now owns 1,877,084 shares of the industrial products company’s stock worth $103,409,000 after buying an additional 13,511 shares during the last quarter. FMR LLC boosted its position in shares of 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 during the last quarter. 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 during the last quarter. AQR Capital Management LLC boosted its position in shares of Greif Bros. Corporation by 3.0% in the first quarter. AQR Capital Management LLC now owns 325,621 shares of the industrial products company’s stock worth $17,938,000 after buying an additional 9,401 shares during the last quarter. 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 last quarter. 47.83% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities analysts recently issued reports on GEF shares. Zacks Investment Research raised shares of Greif Bros. Corporation from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. KeyCorp reissued a “sell” rating and issued a $47.00 price target on shares of Greif Bros. Corporation in a research note on Thursday, June 8th. ValuEngine raised shares of Greif Bros. Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Robert W. Baird reissued an “outperform” rating and issued a $63.00 price target on shares of Greif Bros. Corporation in a research note on Sunday, June 11th. Finally, Bank of America Corporation set a $60.00 price target on shares of Greif Bros. Corporation and gave the stock a “buy” rating in a research note on Saturday, June 10th. One research 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. The stock presently has an average rating of “Hold” and an average price target of $56.50.

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.

Earnings History for Greif Bros. Corporation (NYSE:GEF)

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