Russell Investments Group Ltd. raised its holdings in shares of Green Plains Inc (NASDAQ:GPRE) by 1,012.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 163,584 shares of the specialty chemicals company’s stock after buying an additional 148,879 shares during the period. Russell Investments Group Ltd. owned about 0.40% of Green Plains worth $3,295,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GPRE. BlackRock Inc. boosted its stake in Green Plains by 3.8% in the 2nd quarter. BlackRock Inc. now owns 4,606,262 shares of the specialty chemicals company’s stock worth $94,658,000 after purchasing an additional 167,047 shares during the period. Dimensional Fund Advisors LP boosted its stake in Green Plains by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,363,355 shares of the specialty chemicals company’s stock worth $69,117,000 after purchasing an additional 140,096 shares during the period. Vanguard Group Inc. boosted its stake in Green Plains by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,780,334 shares of the specialty chemicals company’s stock worth $57,136,000 after purchasing an additional 130,424 shares during the period. Northern Trust Corp boosted its stake in Green Plains by 51.8% in the 2nd quarter. Northern Trust Corp now owns 1,083,248 shares of the specialty chemicals company’s stock worth $22,260,000 after purchasing an additional 369,744 shares during the period. Finally, Private Management Group Inc. acquired a new position in Green Plains in the 3rd quarter worth approximately $19,315,000.
GPRE has been the subject of a number of recent analyst reports. Craig Hallum initiated coverage on shares of Green Plains in a research note on Thursday, September 14th. They issued a “buy” rating and a $29.00 price objective for the company. Roth Capital set a $25.00 price objective on shares of Green Plains and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Piper Jaffray Companies set a $19.00 price objective on shares of Green Plains and gave the stock a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research raised shares of Green Plains from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, ValuEngine raised shares of Green Plains from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $25.33.
Green Plains (NASDAQ:GPRE) last released its earnings results on Wednesday, November 1st. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.47). Green Plains had a negative return on equity of 0.88% and a net margin of 0.92%. The company had revenue of $901.20 million during the quarter, compared to analysts’ expectations of $933.36 million. During the same quarter in the previous year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. equities research analysts expect that Green Plains Inc will post -0.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Monday, November 27th were given a $0.12 dividend. The ex-dividend date was Friday, November 24th. This represents a $0.48 dividend on an annualized basis and a yield of 2.92%. Green Plains’s payout ratio is 67.61%.
In related news, Director Ejnar A. Knudsen III bought 15,483 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was bought at an average price of $16.54 per share, for a total transaction of $256,088.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wayne Hoovestol bought 102,653 shares of the business’s stock in a transaction on Friday, November 17th. The stock was bought at an average price of $16.37 per share, with a total value of $1,680,429.61. Following the transaction, the director now owns 218,277 shares in the company, valued at $3,573,194.49. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 148,136 shares of company stock valued at $2,439,918. Insiders own 6.40% of the company’s stock.
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Green Plains Company Profile
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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