Andersons (NASDAQ:ANDE – Free Report) had its target price hoisted by BMO Capital Markets from $75.00 to $90.00 in a research report released on Wednesday morning, MarketBeat.com reports. They currently have an outperform rating on the basic materials company’s stock.
Other analysts also recently issued reports about the stock. Benchmark reissued a “buy” rating on shares of Andersons in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft set a $110.00 target price on Andersons in a research report on Tuesday. UBS Group set a $90.00 price target on Andersons in a report on Wednesday, May 20th. The Goldman Sachs Group lowered Andersons to a “buy” rating in a research report on Thursday, June 18th. Finally, Wall Street Zen raised Andersons from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $95.00.
View Our Latest Research Report on Andersons
Andersons Stock Performance
Andersons (NASDAQ:ANDE – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.67. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.28 billion. Andersons had a net margin of 1.62% and a return on equity of 16.23%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share.
Andersons Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, July 1st. Andersons’s payout ratio is currently 15.44%.
Insider Buying and Selling at Andersons
In other news, Director Patrick E. Bowe sold 3,534 shares of the company’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $80.53, for a total value of $284,593.02. Following the transaction, the director directly owned 74,875 shares of the company’s stock, valued at approximately $6,029,683.75. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.30% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of ANDE. BlackRock Inc. acquired a new stake in shares of Andersons during the 2nd quarter valued at about $427,688,000. Rubric Capital Management LP acquired a new position in Andersons in the fourth quarter worth approximately $53,469,000. Ophir Asset Management Pty Ltd bought a new position in Andersons during the fourth quarter valued at approximately $38,746,000. Victory Capital Management Inc. raised its position in Andersons by 354.7% during the fourth quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company’s stock valued at $38,868,000 after acquiring an additional 570,245 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Andersons in the second quarter valued at approximately $20,628,000. 87.06% of the stock is owned by institutional investors and hedge funds.
About Andersons
The Andersons, Inc operates as a diversified agriculture company offering a broad range of products and services to farmers, retailers and industrial customers. Through its Grain Group, the company purchases, stores, merchandises and transports corn, soybeans and other commodities, while its Renewables Group produces ethanol and distillers grains at multiple plants in the U.S. The Rail Group provides locomotive leasing, railcar repair and related maintenance services, and the Horticulture Group supplies turf, specialty and horticultural products to landscaping professionals and consumer lawn and garden retailers.
Founded in 1947 and headquartered in Maumee, Ohio, The Andersons has grown from a regional grain elevator operator into an integrated agribusiness platform.
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