Intech Investment Management LLC Acquires Shares of 8,270 Greif, Inc. (NYSE:GEF)

Intech Investment Management LLC acquired a new stake in Greif, Inc. (NYSE:GEF - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,270 shares of the industrial products company's stock, valued at approximately $518,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEF. AQR Capital Management LLC grew its stake in Greif by 16.7% in the 2nd quarter. AQR Capital Management LLC now owns 372,040 shares of the industrial products company's stock worth $21,381,000 after acquiring an additional 53,110 shares during the period. Systematic Financial Management LP raised its stake in shares of Greif by 12.3% during the 2nd quarter. Systematic Financial Management LP now owns 262,058 shares of the industrial products company's stock worth $15,061,000 after purchasing an additional 28,669 shares in the last quarter. Marshall Wace LLP acquired a new position in Greif during the second quarter valued at approximately $4,012,000. Truist Financial Corp bought a new stake in shares of Greif in the second quarter valued at approximately $452,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Greif by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,151 shares of the industrial products company's stock valued at $1,185,000 after purchasing an additional 886 shares in the last quarter. Institutional investors and hedge funds own 45.74% of the company's stock.

Greif Stock Performance

GEF traded up $0.39 on Monday, reaching $71.42. 171,442 shares of the stock were exchanged, compared to its average volume of 167,954. 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 fifty-two week low of $55.95 and a fifty-two week high of $73.16. The firm has a market capitalization of $3.37 billion, a PE ratio of 15.44 and a beta of 0.91. The company's 50-day moving average price is $65.06 and its 200 day moving average price is $62.86.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GEF shares. Sidoti assumed coverage on Greif in a report on Wednesday, November 20th. They set a "buy" rating and a $93.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Greif from $80.00 to $76.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Truist Financial restated a "hold" rating and issued 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 dropped their target price on Greif from $77.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $88.00 price objective on shares of Greif in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Greif has a consensus rating of "Moderate Buy" and an average price target of $79.40.

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.