Van ECK Associates Corp trimmed its holdings in shares of Green Plains, Inc. (NASDAQ:GPRE) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,110,805 shares of the specialty chemicals company’s stock after selling 82,321 shares during the period. Van ECK Associates Corp owned approximately 5.25% of Green Plains worth $43,377,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of 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 increased its holdings in shares of 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 increased its holdings in shares of 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. acquired a new position in shares of Green Plains during the first quarter valued at $204,000. Finally, Mason Street Advisors LLC increased its holdings in shares of 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.
GPRE has been the topic of a number of research analyst reports. Zacks Investment Research raised Green Plains from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub lowered Green Plains from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC lowered their price target on Green Plains from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, July 10th. Piper Jaffray Companies reissued a “hold” rating and set a $19.00 price target on shares of Green Plains in a report on Tuesday, September 5th. Finally, ValuEngine lowered Green Plains from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $27.50.
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Green Plains, Inc. (NASDAQ GPRE) traded down 2.90% on Wednesday, reaching $20.10. The company had a trading volume of 163,363 shares. The company’s 50 day moving average price is $18.50 and its 200-day moving average price is $21.31. Green Plains, Inc. has a 12 month low of $16.35 and a 12 month high of $29.85. The company has a market capitalization of $833.83 million, a price-to-earnings ratio of 117.54 and a beta of 1.44.
Green Plains (NASDAQ:GPRE) last issued its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported ($0.41) earnings per share (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 firm had revenue of $886.30 million for the quarter, compared to analyst estimates of $986.88 million. During the same period last year, the company earned $0.21 EPS. The company’s revenue was down .2% compared to the same quarter last year. On average, equities analysts predict that Green Plains, Inc. will post ($0.28) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 28th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, August 24th. Green Plains’s dividend payout ratio (DPR) is presently 282.35%.
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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