New York State Common Retirement Fund cut its position in Renewable Energy Group, Inc. (NASDAQ:REGI) by 16.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,285 shares of the oil and gas company’s stock after selling 6,484 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Renewable Energy Group worth $1,621,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Renewable Energy Group by 10.8% in the 2nd quarter. BlackRock Inc. now owns 8,735,084 shares of the oil and gas company’s stock valued at $544,547,000 after purchasing an additional 852,859 shares during the period. Vanguard Group Inc. lifted its position in shares of Renewable Energy Group by 25.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,150,793 shares of the oil and gas company’s stock valued at $321,100,000 after acquiring an additional 1,059,273 shares during the period. State Street Corp lifted its position in shares of Renewable Energy Group by 10.7% during the 2nd quarter. State Street Corp now owns 2,989,934 shares of the oil and gas company’s stock valued at $186,392,000 after acquiring an additional 289,272 shares during the period. FMR LLC lifted its position in shares of Renewable Energy Group by 6.1% during the 2nd quarter. FMR LLC now owns 1,970,084 shares of the oil and gas company’s stock valued at $122,815,000 after acquiring an additional 112,627 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Renewable Energy Group by 5.4% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,494,246 shares of the oil and gas company’s stock valued at $93,151,000 after acquiring an additional 76,162 shares during the period. Institutional investors and hedge funds own 87.73% of the company’s stock.
REGI has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Renewable Energy Group from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday. Citigroup upped their target price on Renewable Energy Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 22nd. Finally, Raymond James reiterated a “buy” rating and set a $75.00 target price on shares of Renewable Energy Group in a research report on Tuesday, September 21st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Renewable Energy Group currently has an average rating of “Buy” and an average target price of $78.51.
Shares of REGI opened at $46.13 on Thursday. Renewable Energy Group, Inc. has a 12-month low of $40.27 and a 12-month high of $117.00. The business has a 50-day simple moving average of $47.36 and a two-hundred day simple moving average of $52.60. The company has a quick ratio of 5.90, a current ratio of 7.76 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.32 billion, a PE ratio of 11.74 and a beta of 0.73.
Renewable Energy Group (NASDAQ:REGI) last issued its earnings results on Wednesday, November 3rd. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.32). Renewable Energy Group had a return on equity of 12.37% and a net margin of 6.42%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $886.66 million. During the same period in the previous year, the company earned $0.60 EPS. On average, equities research analysts expect that Renewable Energy Group, Inc. will post 4.17 EPS for the current year.
In other news, CAO Todd Samuels sold 3,248 shares of the stock in a transaction dated Thursday, October 28th. The stock was sold at an average price of $60.00, for a total value of $194,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Eric Bowen sold 5,000 shares of the stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $57.36, for a total value of $286,800.00. The disclosure for this sale can be found here. 2.47% of the stock is owned by corporate insiders.
Renewable Energy Group Company Profile
Renewable Energy Group, Inc is a holding company, which engages in the production and trade of biofuel and renewable chemicals. It operates through the following segments: Biomass-based Diesel and Services. The Biomass-based Diesel segment processes waste vegetable oils, animal fats, virgin vegetable oils and other feedstock’s and methanol into biomass-based diesel.
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