Shell Asset Management Co. Decreases Stock Position in Green Plains Inc. (NASDAQ:GPRE)

Posted by Defense World Staff on Feb 26th, 2023

Shell Asset Management Co. cut its holdings in Green Plains Inc. (NASDAQ:GPRE – Get Rating) by 20.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,342 shares of the specialty chemicals company’s stock after selling 2,951 shares during the period. Shell Asset Management Co.’s holdings in Green Plains were worth $330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Green Plains by 0.9% in the 1st quarter. BlackRock Inc. now owns 8,978,072 shares of the specialty chemicals company’s stock worth $278,410,000 after buying an additional 82,288 shares in the last quarter. State Street Corp boosted its position in shares of Green Plains by 6.9% in the 2nd quarter. State Street Corp now owns 4,471,629 shares of the specialty chemicals company’s stock worth $121,494,000 after buying an additional 290,543 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Green Plains by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 3,667,926 shares of the specialty chemicals company’s stock worth $113,742,000 after buying an additional 88,056 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Green Plains by 9.9% in the 2nd quarter. Franklin Resources Inc. now owns 3,666,129 shares of the specialty chemicals company’s stock valued at $99,608,000 after purchasing an additional 330,583 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Green Plains by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,805,680 shares of the specialty chemicals company’s stock valued at $87,003,000 after purchasing an additional 76,362 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GPRE shares. Stephens lowered shares of Green Plains from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $40.00 to $37.00 in a report on Tuesday, January 17th. UBS Group started coverage on shares of Green Plains in a report on Tuesday, December 13th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Craig Hallum upped their target price on shares of Green Plains from $44.00 to $49.00 in a report on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Green Plains has a consensus rating of “Hold” and an average price target of $40.83.

Insider Activity

In related news, CFO James E. Stark acquired 787 shares of the company’s stock in a transaction dated Tuesday, December 6th. The stock was bought at an average price of $31.85 per share, with a total value of $25,065.95. Following the purchase, the chief financial officer now directly owns 11,184 shares in the company, valued at approximately $356,210.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Green Plains Trading Up 2.1 %

NASDAQ GPRE opened at $34.75 on Friday. Green Plains Inc. has a 12 month low of $26.09 and a 12 month high of $41.25. The company has a 50-day moving average of $32.27 and a 200-day moving average of $32.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.91 and a quick ratio of 1.33. The company has a market cap of $2.06 billion, a P/E ratio of -14.72, a P/E/G ratio of 1.08 and a beta of 1.74.

Green Plains (NASDAQ:GPRE – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The specialty chemicals company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.46). Green Plains had a negative net margin of 3.47% and a negative return on equity of 13.88%. The company had revenue of $914.00 million for the quarter, compared to analyst estimates of $894.42 million. During the same period in the prior year, the company earned ($0.06) EPS. The company’s revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts predict that Green Plains Inc. will post 0.69 earnings per share for the current year.

Green Plains Company Profile

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Green Plains, Inc engages in the production of fuel-grade ethanol and corn oil, the provision of grain handling, and storage commodity marketing and distribution services. It operates through the following segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers’ grain, and corn oil at ethanol plants in Indiana, Iowa, Minnesota, Nebraska, Tennessee, and Texas.