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

Franklin Resources Inc. boosted its stake in Green Plains Inc. (NASDAQ:GPREGet Rating) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,666,129 shares of the specialty chemicals company’s stock after acquiring an additional 330,583 shares during the period. Franklin Resources Inc. owned 0.06% of Green Plains worth $99,608,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GPRE. Cannell & Co. lifted its holdings in shares of Green Plains by 1,032.8% in the 2nd quarter. Cannell & Co. now owns 1,452,110 shares of the specialty chemicals company’s stock worth $39,454,000 after purchasing an additional 1,323,920 shares in the last quarter. State Street Corp grew its holdings in shares of Green Plains by 31.9% during the first quarter. State Street Corp now owns 4,181,086 shares of the specialty chemicals company’s stock valued at $129,655,000 after buying an additional 1,011,642 shares during the last quarter. Wolf Hill Capital Management LP grew its holdings in shares of Green Plains by 191.5% during the first quarter. Wolf Hill Capital Management LP now owns 1,423,249 shares of the specialty chemicals company’s stock valued at $44,135,000 after buying an additional 935,010 shares during the last quarter. HITE Hedge Asset Management LLC grew its holdings in shares of Green Plains by 1,729.1% during the first quarter. HITE Hedge Asset Management LLC now owns 522,752 shares of the specialty chemicals company’s stock valued at $16,211,000 after buying an additional 494,173 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Green Plains by 4,372.5% during the second quarter. Russell Investments Group Ltd. now owns 468,762 shares of the specialty chemicals company’s stock valued at $12,734,000 after buying an additional 458,281 shares during the last quarter.

Green Plains Stock Down 3.4 %

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

Wall Street Analyst Weigh In

GPRE has been the subject of a number of analyst reports. BMO Capital Markets cut shares of Green Plains from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $45.00 to $31.00 in a report on Monday, October 24th. Truist Financial reduced their price objective on shares of 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 shares of Green Plains in a report on Wednesday, October 12th. They set a “sell” rating for the company. Finally, Bank of America reduced their price objective on shares of Green Plains from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.60.

Green Plains Company 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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