Bank of Montreal Can boosted its stake in shares of Green Plains, Inc. (NASDAQ:GPRE) by 1,157.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 279,281 shares of the specialty chemicals company’s stock after buying an additional 257,065 shares during the period. Bank of Montreal Can owned about 0.70% of Green Plains worth $5,739,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of GPRE. BlackRock Inc. increased its stake in shares of Green Plains by 44,650.2% in the first quarter. BlackRock Inc. now owns 4,439,215 shares of the specialty chemicals company’s stock valued at $109,870,000 after buying an additional 4,429,295 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Green Plains by 102.5% in the first quarter. Point72 Asset Management L.P. now owns 3,323,106 shares of the specialty chemicals company’s stock valued at $82,247,000 after buying an additional 1,682,049 shares during the period. State Street Corp increased its stake in shares of Green Plains by 31.7% in the first quarter. State Street Corp now owns 1,947,171 shares of the specialty chemicals company’s stock valued at $48,195,000 after buying an additional 468,205 shares during the period. Precocity Capital LP bought a new stake in shares of Green Plains during the first quarter valued at $9,900,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Green Plains by 2,839.1% in the first quarter. Canada Pension Plan Investment Board now owns 390,900 shares of the specialty chemicals company’s stock valued at $9,675,000 after buying an additional 377,600 shares during the period.
Green Plains, Inc. (GPRE) traded up 0.58% during mid-day trading on Friday, reaching $17.25. The company’s stock had a trading volume of 1,376,208 shares. The firm has a 50-day moving average of $19.26 and a 200-day moving average of $22.17. The stock has a market capitalization of $715.60 million, a price-to-earnings ratio of 100.88 and a beta of 1.42. Green Plains, Inc. has a 52 week low of $16.90 and a 52 week high of $29.85.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 28th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, August 24th. Green Plains’s payout ratio is 282.35%.
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A number of research firms have recently commented on GPRE. Piper Jaffray Companies reiterated a “hold” rating and issued a $19.00 price objective on shares of Green Plains in a report on Thursday, August 3rd. ValuEngine downgraded Green Plains from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $30.00 price objective on shares of Green Plains in a report on Wednesday, April 26th. BidaskClub raised Green Plains from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Green Plains from a “strong sell” rating to a “hold” rating and set a $29.00 target price for the company in a research report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.29.
In other Green Plains news, EVP Michelle Mapes sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $23.22, for a total value of $162,540.00. Following the completion of the sale, the executive vice president now owns 49,596 shares of the company’s stock, valued at approximately $1,151,619.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James F. Crowley sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $21.92, for a total transaction of $43,840.00. Following the completion of the sale, the director now directly owns 23,209 shares of the company’s stock, valued at approximately $508,741.28. The disclosure for this sale can be found here. Insiders have sold a total of 85,602 shares of company stock valued at $1,875,511 in the last ninety days. 6.40% of the stock is currently owned by insiders.
Green Plains Company Profile
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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