Greif Bros. Corporation (GEF) Stake Reduced by Credit Suisse AG

Credit Suisse AG decreased its position in Greif Bros. Corporation (NYSE:GEF) by 32.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,787 shares of the industrial products company’s stock after selling 18,432 shares during the period. Credit Suisse AG owned about 0.08% of Greif Bros. Corporation worth $2,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEF. State Treasurer State of Michigan raised 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. Oregon Public Employees Retirement Fund raised its position in shares of 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 worth $489,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System raised its position in shares of 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 worth $358,000 after buying an additional 100 shares during the period. Virginia Retirement Systems ET AL raised its position in shares of Greif Bros. Corporation by 0.4% in the first quarter. Virginia Retirement Systems ET AL now owns 28,200 shares of the industrial products company’s stock worth $1,554,000 after buying an additional 100 shares during the period. Finally, Alpha Windward LLC raised its position in shares of 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 worth $463,000 after buying an additional 120 shares during the period. Institutional investors own 48.84% of the company’s stock.

Shares of Greif Bros. Corporation (NYSE GEF) traded down 0.04% during midday trading on Friday, hitting $56.05. The stock had a trading volume of 106,304 shares. The firm’s 50-day moving average price is $56.47 and its 200-day moving average price is $56.46. Greif Bros. Corporation has a one year low of $40.77 and a one year high of $63.04. The firm has a market capitalization of $2.68 billion, a PE 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 (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $887.40 million during the quarter, compared to the consensus estimate of $891.22 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts predict that Greif Bros. Corporation will post $2.89 EPS for the current year.

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GEF has been the subject of several research analyst reports. Bank of America Corporation set a $60.00 price objective on Greif Bros. Corporation and gave the company a “buy” rating in a report on Saturday, June 10th. BMO Capital Markets restated a “hold” rating and issued a $55.00 price objective on shares of Greif Bros. Corporation in a report on Thursday. BidaskClub upgraded Greif Bros. Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Robert W. Baird restated an “outperform” rating and issued a $63.00 price objective on shares of Greif Bros. Corporation in a report on Sunday, June 11th. Finally, ValuEngine upgraded Greif Bros. Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 9th. One 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’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.50.

In related news, major shareholder Shannon J. Diener purchased 5,189 shares of Greif Bros. Corporation stock in a transaction dated Thursday, July 6th. The shares were acquired at an average cost of $62.37 per share, for a total transaction of $323,637.93. Following 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 legal filing with the Securities & Exchange Commission, which is available at this link. 16.79% of the stock is owned by company 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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