Needham Investment Management LLC lowered its position in shares of Adams Resources & Energy, Inc. (NYSE:AE – Free Report) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,000 shares of the company’s stock after selling 16,500 shares during the period. Needham Investment Management LLC owned approximately 7.36% of Adams Resources & Energy worth $5,130,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Bard Associates Inc. grew its position in Adams Resources & Energy by 13.1% in the 3rd quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock worth $336,000 after purchasing an additional 1,443 shares during the period. Empowered Funds LLC grew its position in Adams Resources & Energy by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock worth $501,000 after purchasing an additional 938 shares during the period. Cerity Partners LLC grew its position in Adams Resources & Energy by 117.1% in the 3rd quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock worth $549,000 after purchasing an additional 10,977 shares during the period. Wittenberg Investment Management Inc. grew its position in shares of Adams Resources & Energy by 1.6% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after acquiring an additional 339 shares during the period. Finally, Round Hill Asset Management grew its position in shares of Adams Resources & Energy by 71.6% during the 3rd quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock valued at $620,000 after acquiring an additional 9,587 shares during the period. Institutional investors own 57.81% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on AE shares. StockNews.com started coverage on shares of Adams Resources & Energy in a research report on Friday. They set a “buy” rating for the company. B. Riley reissued a “neutral” rating and set a $38.00 price objective (down previously from $45.00) on shares of Adams Resources & Energy in a research report on Wednesday, November 13th.
Adams Resources & Energy Price Performance
Shares of AE remained flat at $37.20 during trading hours on Tuesday. 824 shares of the company were exchanged, compared to its average volume of 9,110. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 1.04. Adams Resources & Energy, Inc. has a 52 week low of $22.30 and a 52 week high of $37.90. The company’s 50-day simple moving average is $30.00 and its 200-day simple moving average is $27.10.
Adams Resources & Energy (NYSE:AE – Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.20). Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.14%. The firm had revenue of $695.16 million for the quarter, compared to analysts’ expectations of $649.00 million. On average, sell-side analysts forecast that Adams Resources & Energy, Inc. will post -2.65 earnings per share for the current fiscal year.
Adams Resources & Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, December 6th. Adams Resources & Energy’s payout ratio is currently -30.38%.
About Adams Resources & Energy
Adams Resources & Energy, Inc, through its subsidiaries, primarily engages in the marketing, transportation, terminalling, and storage of crude oil and other related products in the United States. The company operates through four segments: Crude Oil Marketing, Transportation, Pipeline and Storage, and Logistics and Repurposing.
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