Martingale Asset Management L P Sells 24,888 Shares of Greif, Inc. (NYSE:GEF)

Martingale Asset Management L P reduced its position in shares of Greif, Inc. (NYSE:GEF - Free Report) by 69.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,800 shares of the industrial products company's stock after selling 24,888 shares during the quarter. Martingale Asset Management L P's holdings in Greif were worth $677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC raised its position in shares of Greif by 3.2% in the third quarter. Verdence Capital Advisors LLC now owns 5,195 shares of the industrial products company's stock valued at $326,000 after purchasing an additional 163 shares during the period. State of Alaska Department of Revenue raised its position in shares of Greif by 7.0% in the third quarter. State of Alaska Department of Revenue now owns 3,068 shares of the industrial products company's stock valued at $192,000 after purchasing an additional 200 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Greif by 5.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,049 shares of the industrial products company's stock valued at $233,000 after purchasing an additional 222 shares during the period. Quarry LP raised its position in shares of Greif by 71.9% in the second quarter. Quarry LP now owns 545 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 228 shares during the period. Finally, Cadence Wealth Management LLC raised its position in shares of Greif by 11.1% in the second quarter. Cadence Wealth Management LLC now owns 4,460 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 444 shares during the period. 45.74% of the stock is owned by institutional investors.

Greif Price Performance

Greif stock traded down $0.28 during trading hours on Tuesday, reaching $71.21. 180,627 shares of the stock were exchanged, compared to its average volume of 167,888. The company has a market cap of $3.36 billion, a P/E ratio of 15.48 and a beta of 0.92. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.35. Greif, Inc. has a twelve month low of $55.95 and a twelve month high of $73.16. The stock has a 50 day moving average of $65.24 and a two-hundred day moving average of $62.91.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial reissued a "hold" rating and issued a $67.00 price objective (down from $69.00) on shares of Greif in a research report on Friday, August 30th. Stifel Nicolaus restated a "buy" rating and issued a $88.00 price target on shares of Greif in a research note on Monday, August 26th. Sidoti assumed coverage on shares of Greif in a research note on Wednesday, November 20th. They issued a "buy" rating and a $93.00 price target on the stock. 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 research note on Monday, August 26th. Finally, Bank of America decreased 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.