Dimensional Fund Advisors LP increased its holdings in Renewable Energy Group Inc (NASDAQ:REGI) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,265,620 shares of the oil and gas company’s stock after purchasing an additional 16,827 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.08% of Renewable Energy Group worth $39,677,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Alliancebernstein L.P. lifted its holdings in Renewable Energy Group by 249.4% in the second quarter. Alliancebernstein L.P. now owns 84,550 shares of the oil and gas company’s stock valued at $1,095,000 after buying an additional 60,350 shares during the period. Ameriprise Financial Inc. lifted its holdings in Renewable Energy Group by 12.9% in the third quarter. Ameriprise Financial Inc. now owns 167,528 shares of the oil and gas company’s stock valued at $2,035,000 after buying an additional 19,165 shares during the period. Bank of Nova Scotia acquired a new position in Renewable Energy Group in the second quarter valued at $1,092,000. IndexIQ Advisors LLC lifted its holdings in Renewable Energy Group by 83.1% in the third quarter. IndexIQ Advisors LLC now owns 82,942 shares of the oil and gas company’s stock valued at $1,008,000 after buying an additional 37,636 shares during the period. Finally, State Street Corp lifted its holdings in Renewable Energy Group by 11.8% in the second quarter. State Street Corp now owns 887,932 shares of the oil and gas company’s stock valued at $11,496,000 after buying an additional 94,037 shares during the period.
In related news, Director Peter John Martin Harding acquired 5,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average price of $11.14 per share, for a total transaction of $55,700.00. Following the completion of the acquisition, the director now owns 64,136 shares of the company’s stock, valued at $714,475.04. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.54% of the stock is currently owned by corporate insiders.
Several research firms recently issued reports on REGI. BidaskClub upgraded shares of Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Zacks Investment Research lowered shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $13.00 target price on shares of Renewable Energy Group in a report on Friday, November 3rd. One equities 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 company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.33.
Renewable Energy Group Inc (NASDAQ REGI) opened at $11.30 on Friday. Renewable Energy Group Inc has a fifty-two week low of $8.25 and a fifty-two week high of $13.55. The firm has a market cap of $429.10, a PE ratio of -10.37, a PEG ratio of 0.39 and a beta of 1.48. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.
Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.11. Renewable Energy Group had a negative net margin of 1.96% and a positive return on equity of 0.38%. The firm had revenue of $627.00 million for the quarter, compared to analyst estimates of $513.88 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. sell-side analysts forecast that Renewable Energy Group Inc will post -1.63 EPS for the current fiscal year.
Renewable Energy Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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Renewable Energy Group Company Profile
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services. The Company is a producer of biomass-based diesel in North America. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. It is involved in various activities related to biomass-based diesel production, from acquiring feedstock, managing construction and operating biomass-based diesel production facilities to marketing, selling and distributing biomass-based diesel and its co-products.
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