New York State Teachers Retirement System trimmed its stake in shares of Greif, Inc. (NYSE:GEF) by 3.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,586 shares of the industrial products company’s stock after selling 1,900 shares during the period. New York State Teachers Retirement System’s holdings in Greif were worth $1,581,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new position in Greif during the first quarter valued at $122,000. AdvisorNet Financial Inc purchased a new position in Greif during the second quarter valued at $109,000. Mercer Global Advisors Inc. ADV purchased a new position in Greif during the first quarter valued at $206,000. Municipal Employees Retirement System of Michigan purchased a new position in Greif during the fourth quarter valued at $225,000. Finally, Denali Advisors LLC purchased a new position in Greif during the second quarter valued at $199,000. 47.84% of the stock is owned by institutional investors.
GEF has been the subject of several research analyst reports. TheStreet cut shares of Greif from a “b-” rating to a “c+” rating in a research note on Friday, June 14th. Wells Fargo & Co set a $40.00 price objective on shares of Greif and gave the stock a “hold” rating in a research note on Friday, June 7th. Zacks Investment Research raised shares of Greif from a “sell” rating to a “hold” rating and set a $37.00 price objective for the company in a research note on Thursday, May 30th. Finally, Bank of America set a $37.00 price objective on shares of Greif and gave the stock a “sell” rating in a research note on Friday, June 7th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has an average rating of “Sell” and a consensus target price of $36.88.
Greif (NYSE:GEF) last issued its quarterly earnings data on Wednesday, June 5th. The industrial products company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. Greif had a net margin of 3.68% and a return on equity of 19.11%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the company posted $0.76 EPS. The business’s revenue was up 25.3% on a year-over-year basis. Equities research analysts predict that Greif, Inc. will post 3.79 earnings per share for the current fiscal year.
In other news, CFO Lawrence A. Hilsheimer bought 3,450 shares of the stock in a transaction dated Friday, July 5th. The stock was purchased at an average price of $33.76 per share, for a total transaction of $116,472.00. Following the acquisition, the chief financial officer now owns 108,090 shares of the company’s stock, valued at $3,649,118.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter G. Watson bought 15,000 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was purchased at an average price of $32.71 per share, with a total value of $490,650.00. Following the acquisition, the chief executive officer now directly owns 140,011 shares in the company, valued at approximately $4,579,759.81. The disclosure for this purchase can be found here. Insiders acquired a total of 20,358 shares of company stock valued at $670,275 over the last three months. Corporate insiders own 13.56% of the company’s stock.
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.
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