Martingale Asset Management L P Lowers Stake in Greif, Inc. (NYSE:GEF)

Martingale Asset Management L P lessened its position in Greif, Inc. (NYSE:GEF) by 69.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,800 shares of the industrial products company’s stock after selling 24,888 shares during the period. Martingale Asset Management L P’s holdings in Greif were worth $677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GEF. Thrivent Financial for Lutherans raised its holdings in Greif by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 784,004 shares of the industrial products company’s stock valued at $49,126,000 after acquiring an additional 30,192 shares during the last quarter. William Blair Investment Management LLC increased its stake in Greif by 17.6% in the second quarter. William Blair Investment Management LLC now owns 540,330 shares of the industrial products company’s stock valued at $31,053,000 after purchasing an additional 80,754 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Greif by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 524,637 shares of the industrial products company’s stock valued at $32,874,000 after purchasing an additional 44,473 shares during the last quarter. AQR Capital Management LLC lifted its position in Greif by 16.7% during the second quarter. AQR Capital Management LLC now owns 372,040 shares of the industrial products company’s stock worth $21,381,000 after buying an additional 53,110 shares during the period. Finally, Systematic Financial Management LP boosted its stake in Greif by 12.3% in the 2nd quarter. Systematic Financial Management LP now owns 262,058 shares of the industrial products company’s stock worth $15,061,000 after buying an additional 28,669 shares during the last quarter. Hedge funds and other institutional investors own 45.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GEF. Sidoti began coverage on shares of Greif in a research note on Wednesday, November 20th. They set a “buy” rating and a $93.00 price objective for the company. Bank of America cut their price target on shares of Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company decreased their price target on shares of Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Truist Financial restated a “hold” rating and set a $67.00 price objective (down from $69.00) on shares of Greif in a report on Friday, August 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $88.00 target price on shares of Greif in a report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.40.

Greif Stock Performance

Shares of GEF stock opened at $71.42 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.35. The company has a market cap of $3.37 billion, a PE ratio of 15.44 and a beta of 0.91. The company’s fifty day simple moving average is $65.06 and its 200-day simple moving average is $62.86. Greif, Inc. has a 52 week low of $55.95 and a 52 week high of $73.16.

About Greif

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.