Public Employees Retirement System of Ohio purchased a new position in The Andersons, Inc. (NASDAQ:ANDE – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 40,946 shares of the basic materials company’s stock, valued at approximately $2,801,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Optimize Financial Inc lifted its holdings in Andersons by 1.4% in the fourth quarter. Optimize Financial Inc now owns 14,657 shares of the basic materials company’s stock worth $779,000 after purchasing an additional 208 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Andersons by 95.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 820 shares of the basic materials company’s stock valued at $44,000 after buying an additional 400 shares during the period. Uniplan Investment Counsel Inc. bought a new stake in shares of Andersons during the 4th quarter worth about $25,000. Amundi raised its position in shares of Andersons by 2.0% during the 4th quarter. Amundi now owns 24,085 shares of the basic materials company’s stock worth $1,281,000 after buying an additional 474 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Andersons in the 2nd quarter worth approximately $38,000. 87.06% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Andersons
In related news, Director Patrick Bowe sold 3,534 shares of Andersons stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $80.53, for a total value of $284,593.02. Following the transaction, the director owned 74,875 shares of the company’s stock, valued at approximately $6,029,683.75. This trade represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is owned by company insiders.
Andersons Stock Down 0.3%
Andersons (NASDAQ:ANDE – Get Free Report) last issued its earnings results on Monday, August 3rd. The basic materials company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.67. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Andersons had a net margin of 1.62% and a return on equity of 16.23%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share.
Andersons Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a $0.20 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. Andersons’s dividend payout ratio (DPR) is 15.44%.
Wall Street Analyst Weigh In
ANDE has been the subject of several recent analyst reports. The Goldman Sachs Group cut shares of Andersons to a “buy” rating in a report on Thursday, June 18th. Benchmark restated a “buy” rating on shares of Andersons in a research report on Monday, June 15th. Wall Street Zen raised Andersons from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Deutsche Bank Aktiengesellschaft set a $110.00 price target on Andersons in a research report on Tuesday, August 4th. Finally, UBS Group set a $90.00 price objective on Andersons in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $95.00.
Read Our Latest Research Report on ANDE
Andersons Company Profile
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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