Green Plains, Inc. (GPRE) Shares Sold by Comerica Bank
Comerica Bank trimmed its position in shares of Green Plains, Inc. (NASDAQ:GPRE) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,063 shares of the specialty chemicals company’s stock after selling 191 shares during the period. Comerica Bank owned 0.10% of Green Plains worth $738,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in Green Plains by 7.2% during the first quarter. Envestnet Asset Management Inc. now owns 4,022 shares of the specialty chemicals company’s stock valued at $100,000 after purchasing an additional 270 shares during the period. State of Alaska Department of Revenue grew its holdings in Green Plains by 85.9% during the second quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock valued at $149,000 after purchasing an additional 3,369 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Green Plains by 2.0% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,150 shares of the specialty chemicals company’s stock valued at $202,000 after purchasing an additional 160 shares during the period. UBS Asset Management Americas Inc. bought a new position in Green Plains during the first quarter valued at $204,000. Finally, Mason Street Advisors LLC grew its holdings in Green Plains by 6.5% during the first quarter. Mason Street Advisors LLC now owns 8,303 shares of the specialty chemicals company’s stock valued at $205,000 after purchasing an additional 506 shares during the period.
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Green Plains, Inc. (NASDAQ:GPRE) opened at 20.45 on Friday. The company has a market capitalization of $848.35 million, a price-to-earnings ratio of 119.59 and a beta of 1.44. The stock has a 50 day moving average price of $18.50 and a 200-day moving average price of $21.31. Green Plains, Inc. has a 12-month low of $16.35 and a 12-month high of $29.85.
Green Plains (NASDAQ:GPRE) last announced its earnings results on Monday, July 31st. The specialty chemicals company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.29). The company had revenue of $886.30 million for the quarter, compared to analysts’ expectations of $986.88 million. Green Plains had a net margin of 0.19% and a return on equity of 0.68%. Green Plains’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Equities analysts predict that Green Plains, Inc. will post ($0.29) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 28th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $0.48 dividend on an annualized basis and a yield of 2.34%. Green Plains’s dividend payout ratio is presently 282.35%.
Several equities analysts have weighed in on the company. ValuEngine raised Green Plains from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Piper Jaffray Companies reissued a “hold” rating and set a $19.00 price objective on shares of Green Plains in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and set a $25.00 price objective (down from $28.00) on shares of Green Plains in a report on Wednesday, August 2nd. Craig Hallum assumed coverage on Green Plains in a report on Thursday, September 14th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Roth Capital set a $27.00 price objective on Green Plains and gave the company a “buy” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $27.50.
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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