Green Plains (GPRE) Trading 6.4% Higher Following Earnings Beat
Green Plains Inc (NASDAQ:GPRE)’s share price traded up 6.4% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $18.55 and last traded at $18.25. 1,612,875 shares changed hands during trading, an increase of 108% from the average session volume of 774,006 shares. The stock had previously closed at $17.15.
The specialty chemicals company reported ($0.16) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. Green Plains had a net margin of 0.92% and a negative return on equity of 0.88%. The firm had revenue of $920.98 million for the quarter, compared to analysts’ expectations of $953.30 million. During the same quarter last year, the firm earned $0.47 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.48 annualized dividend and a dividend yield of 2.63%. Green Plains’s dividend payout ratio is currently 73.85%.
In other Green Plains news, Director Wayne Hoovestol acquired 102,653 shares of Green Plains stock in a transaction that occurred on Friday, November 17th. The stock was acquired at an average cost of $16.37 per share, for a total transaction of $1,680,429.61. Following the purchase, the director now owns 218,277 shares of the company’s stock, valued at $3,573,194.49. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd A. Becker acquired 9,000 shares of Green Plains stock in a transaction that occurred on Friday, December 22nd. The stock was acquired at an average price of $16.74 per share, with a total value of $150,660.00. Following the completion of the purchase, the insider now directly owns 716,588 shares in the company, valued at approximately $11,995,683.12. The disclosure for this purchase can be found here. Insiders purchased a total of 127,136 shares of company stock worth $2,087,178 in the last ninety days. 6.40% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Green Plains by 3.8% in the 2nd quarter. BlackRock Inc. now owns 4,606,262 shares of the specialty chemicals company’s stock valued at $94,658,000 after buying an additional 167,047 shares in the last quarter. Van ECK Associates Corp grew its stake in Green Plains by 70.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,588,878 shares of the specialty chemicals company’s stock valued at $72,316,000 after buying an additional 1,478,073 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Green Plains by 4.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,503,869 shares of the specialty chemicals company’s stock valued at $70,603,000 after buying an additional 140,514 shares in the last quarter. Vanguard Group Inc. grew its stake in Green Plains by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,780,334 shares of the specialty chemicals company’s stock valued at $57,136,000 after buying an additional 130,424 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Green Plains by 51.8% in the 2nd quarter. Northern Trust Corp now owns 1,083,248 shares of the specialty chemicals company’s stock valued at $22,260,000 after buying an additional 369,744 shares in the last quarter.
The firm has a market capitalization of $751.21, a P/E ratio of 28.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.70 and a current ratio of 1.57.
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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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