Suntrust Banks Inc. Grows Stake in Green Plains, Inc. (GPRE)
Suntrust Banks Inc. lifted its position in shares of Green Plains, Inc. (NASDAQ:GPRE) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,423 shares of the specialty chemicals company’s stock after buying an additional 370 shares during the quarter. Suntrust Banks Inc.’s holdings in Green Plains were worth $337,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in GPRE. Envestnet Asset Management Inc. raised its stake in shares of Green Plains by 7.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,022 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 270 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Green Plains by 85.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock worth $149,000 after buying an additional 3,369 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Green Plains by 2.0% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,150 shares of the specialty chemicals company’s stock worth $202,000 after buying an additional 160 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Green Plains during the 1st quarter worth $204,000. Finally, Mason Street Advisors LLC raised its stake in shares of Green Plains by 6.5% during the 1st quarter. Mason Street Advisors LLC now owns 8,303 shares of the specialty chemicals company’s stock worth $205,000 after buying an additional 506 shares during the last quarter.
Shares of Green Plains, Inc. (NASDAQ GPRE) opened at 19.10 on Friday. The company’s 50-day moving average price is $19.46 and its 200-day moving average price is $20.96. The stock has a market cap of $792.34 million, a PE ratio of 111.70 and a beta of 1.37. Green Plains, Inc. has a 52-week low of $16.35 and a 52-week high of $29.85.
Green Plains (NASDAQ:GPRE) last announced its earnings results on Monday, July 31st. The specialty chemicals company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.29). Green Plains had a net margin of 0.19% and a return on equity of 0.68%. The company had revenue of $886.30 million for the quarter, compared to analysts’ expectations of $986.88 million. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that Green Plains, Inc. will post ($0.32) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 28th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, August 24th. Green Plains’s dividend payout ratio is 282.35%.
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A number of analysts recently commented on the company. Roth Capital set a $27.00 price objective on Green Plains and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $25.00 price objective (down previously from $28.00) on shares of Green Plains in a research report on Wednesday, August 2nd. Craig Hallum assumed coverage on Green Plains in a research report on Thursday, September 14th. They set a “buy” rating and a $29.00 price objective for the company. Piper Jaffray Companies reiterated a “hold” rating and set a $19.00 price objective on shares of Green Plains in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Green Plains from a “strong sell” rating to a “hold” rating in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Green Plains currently has an average rating of “Hold” and a consensus target price of $26.50.
About Green Plains
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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