Franklin Resources Inc. Buys 330,583 Shares of Green Plains Inc. (NASDAQ:GPRE)

Franklin Resources Inc. boosted its stake in shares of Green Plains Inc. (NASDAQ:GPREGet Rating) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,666,129 shares of the specialty chemicals company’s stock after purchasing an additional 330,583 shares during the quarter. Franklin Resources Inc. owned about 6.31% of Green Plains worth $99,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPRE. Truist Financial Corp boosted its position in Green Plains by 22.1% during the first quarter. Truist Financial Corp now owns 7,169 shares of the specialty chemicals company’s stock worth $222,000 after purchasing an additional 1,297 shares during the period. Comerica Bank lifted its holdings in shares of Green Plains by 2.8% during the first quarter. Comerica Bank now owns 46,813 shares of the specialty chemicals company’s stock worth $1,412,000 after buying an additional 1,255 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Green Plains by 92.7% during the first quarter. SG Americas Securities LLC now owns 19,938 shares of the specialty chemicals company’s stock worth $618,000 after buying an additional 9,591 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Green Plains by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 7,723 shares of the specialty chemicals company’s stock worth $239,000 after buying an additional 401 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Green Plains by 2.0% during the first quarter. Victory Capital Management Inc. now owns 1,451,681 shares of the specialty chemicals company’s stock worth $44,981,000 after buying an additional 28,331 shares in the last quarter.

Green Plains Trading Down 3.4 %

GPRE stock opened at $34.05 on Thursday. The business has a 50-day simple moving average of $30.51 and a 200 day simple moving average of $32.47. Green Plains Inc. has a 52 week low of $26.09 and a 52 week high of $41.25. The company has a quick ratio of 1.61, a current ratio of 2.22 and a debt-to-equity ratio of 0.44.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GPRE shares. BMO Capital Markets downgraded Green Plains from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $45.00 to $31.00 in a report on Monday, October 24th. Truist Financial dropped their target price on Green Plains from $55.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 7th. StockNews.com initiated coverage on Green Plains in a report on Wednesday, October 12th. They set a “sell” rating for the company. Finally, Bank of America dropped their price target on Green Plains from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.60.

Green Plains Profile

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Green Plains Inc produces, markets, and distributes ethanol in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces and sells ethanol, including industrial-grade alcohol, distiller grains, and ultra-high protein and corn oil.

Further Reading

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Institutional Ownership by Quarter for Green Plains (NASDAQ:GPRE)

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