Martingale Asset Management L P Decreases Stock Position in Greif, Inc. (NYSE:GEF)

Martingale Asset Management L P lowered its position in shares of Greif, Inc. (NYSE:GEF) by 69.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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.

A number of other institutional investors have also made changes to their positions in GEF. Quarry LP grew its holdings in Greif by 71.9% during the 2nd quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 228 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Greif during the second quarter valued at about $64,000. DekaBank Deutsche Girozentrale increased its position in shares of Greif by 80.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 561 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Greif in the second quarter worth about $80,000. Finally, Quest Partners LLC boosted its holdings in Greif by 27,766.7% in the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 1,666 shares during the last quarter. 45.74% of the stock is owned by institutional investors and hedge funds.

Greif Stock Performance

Shares of GEF opened at $71.42 on Tuesday. The stock has a market capitalization of $3.37 billion, a PE ratio of 15.44 and a beta of 0.91. The business’s fifty day moving average price is $65.06 and its 200 day moving average price is $62.86. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.70 and a quick ratio of 1.28. Greif, Inc. has a 12-month low of $55.95 and a 12-month high of $73.16.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEF. Stifel Nicolaus restated a “buy” rating and set a $88.00 price objective on shares of Greif in a report on Monday, August 26th. Truist Financial reissued a “hold” rating and set a $67.00 price target (down previously from $69.00) on shares of Greif in a research report on Friday, August 30th. 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 report on Friday, August 30th. Wells Fargo & Company decreased their price objective on shares of Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, Sidoti initiated coverage on shares of Greif in a research note on Wednesday, November 20th. They issued a “buy” rating and a $93.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $79.40.

Greif Profile

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.