Comerica Bank reduced its position in Green Plains Inc (NASDAQ:GPRE) by 44.1% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 37,876 shares of the company’s stock after selling 29,891 shares during the period. Comerica Bank’s holdings in Green Plains were worth $901,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Green Plains during the third quarter worth $139,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of Green Plains by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,030 shares of the company’s stock worth $210,000 after buying an additional 120 shares during the last quarter. Blue Rock Advisors LLC purchased a new stake in shares of Green Plains during the third quarter worth $235,000. Aperio Group LLC purchased a new stake in shares of Green Plains during the third quarter worth $244,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of Green Plains during the third quarter worth $244,000. Institutional investors and hedge funds own 97.67% of the company’s stock.
Shares of Green Plains Inc (NASDAQ:GPRE) opened at 22.70 on Tuesday. The firm has a market capitalization of $866.71 million, a PE ratio of 81.65 and a beta of 1.33. Green Plains Inc has a 52 week low of $13.88 and a 52 week high of $29.85. The stock has a 50 day moving average of $23.63 and a 200-day moving average of $25.23.
Green Plains (NASDAQ:GPRE) last announced its earnings results on Wednesday, February 8th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.38 by $0.09. The firm had revenue of $932.10 million for the quarter, compared to the consensus estimate of $1,000 million. Green Plains had a net margin of 0.31% and a return on equity of 1.12%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. Equities analysts anticipate that Green Plains Inc will post $1.60 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, February 24th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, February 22nd. This represents a $0.48 annualized dividend and a yield of 2.11%. Green Plains’s dividend payout ratio (DPR) is currently 192.00%.
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GPRE has been the subject of a number of analyst reports. Roth Capital set a $33.00 price objective on shares of Green Plains and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Jefferies Group LLC restated a “buy” rating and issued a $32.00 price objective on shares of Green Plains in a research note on Thursday, February 9th. Finally, Zacks Investment Research cut shares of Green Plains from a “hold” rating to a “sell” rating in a research note on Friday, February 10th.
In other Green Plains news, EVP Michelle Mapes sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $24.50, for a total transaction of $98,000.00. Following the sale, the executive vice president now directly owns 43,526 shares in the company, valued at approximately $1,066,387. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Peterson sold 78,650 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $25.31, for a total transaction of $1,990,631.50. Following the sale, the director now owns 100,755 shares in the company, valued at $2,550,109.05. The disclosure for this sale can be found here. Company insiders own 7.60% of the company’s stock.
About Green Plains
Green Plains Inc (Green Plains) is a vertically integrated producer, marketer and distributor of ethanol. The Company operates through four segments: Ethanol Production, Agribusiness, Marketing and Distribution, and Partnership. The Company’s ethanol production segment is engaged in the production of ethanol and related distillers grain.
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