Shell Asset Management Co. Sells 1,978 Shares of Green Plains Inc. (NASDAQ:GPRE)

Posted by Defense World Staff on May 9th, 2023

Shell Asset Management Co. trimmed its holdings in Green Plains Inc. (NASDAQ:GPRE – Get Rating) by 17.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,364 shares of the specialty chemicals company’s stock after selling 1,978 shares during the quarter. Shell Asset Management Co.’s holdings in Green Plains were worth $286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GPRE. Citigroup Inc. boosted its position in shares of Green Plains by 37.7% during the 1st quarter. Citigroup Inc. now owns 127,032 shares of the specialty chemicals company’s stock valued at $3,940,000 after acquiring an additional 34,787 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Green Plains by 58.5% during the first quarter. MetLife Investment Management LLC now owns 24,564 shares of the specialty chemicals company’s stock worth $762,000 after purchasing an additional 9,066 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Green Plains by 3.1% during the first quarter. Rhumbline Advisers now owns 148,266 shares of the specialty chemicals company’s stock worth $4,598,000 after purchasing an additional 4,517 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Green Plains by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,205 shares of the specialty chemicals company’s stock worth $1,433,000 after purchasing an additional 5,697 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Green Plains by 0.9% during the first quarter. BlackRock Inc. now owns 8,978,072 shares of the specialty chemicals company’s stock worth $278,410,000 after purchasing an additional 82,288 shares during the last quarter.

Green Plains Trading Down 2.7 %

Shares of NASDAQ:GPRE opened at $30.96 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.84 billion, a PE ratio of -12.90 and a beta of 1.73. The business has a 50 day moving average of $32.26 and a two-hundred day moving average of $32.18. Green Plains Inc. has a 12-month low of $26.33 and a 12-month high of $41.25.

Green Plains (NASDAQ:GPRE – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The specialty chemicals company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.83). Green Plains had a negative return on equity of 14.94% and a negative net margin of 3.66%. The firm had revenue of $832.90 million for the quarter, compared to analysts’ expectations of $823.35 million. During the same quarter in the previous year, the firm posted ($1.16) earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts forecast that Green Plains Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on GPRE. BMO Capital Markets assumed coverage on Green Plains in a research report on Thursday, April 13th. They set a “market perform” rating and a $33.00 target price for the company. Stephens lowered Green Plains from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $40.00 to $37.00 in a research note on Tuesday, January 17th. Craig Hallum lifted their target price on Green Plains from $44.00 to $49.00 in a research note on Thursday, February 9th. Finally, StockNews.com started coverage on Green Plains in a research note on Thursday, March 16th. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.17.

Green Plains 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.