Andersons (NASDAQ:ANDE) Releases Quarterly Earnings Results, Beats Estimates By $0.67 EPS

Andersons (NASDAQ:ANDE) released its quarterly earnings results on Monday. The basic materials company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.67, Zacks reports. Andersons had a net margin of 1.17% and a return on equity of 10.68%.

Andersons Price Performance

NASDAQ ANDE traded down $0.92 during trading hours on Monday, reaching $69.86. 353,292 shares of the company’s stock were exchanged, compared to its average volume of 326,010. The firm has a fifty day moving average of $72.17 and a 200-day moving average of $69.83. Andersons has a one year low of $31.84 and a one year high of $82.11. The stock has a market cap of $2.38 billion, a PE ratio of 18.58 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 0.62 and a debt-to-equity ratio of 0.43.

Andersons Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Andersons’s dividend payout ratio is currently 21.28%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Texas Capital raised shares of Andersons to a “strong-buy” rating in a research report on Thursday, June 18th. The Goldman Sachs Group downgraded Andersons to a “buy” rating in a research report on Thursday, June 18th. UBS Group set a $90.00 price objective on Andersons in a research note on Wednesday, May 20th. Wall Street Zen upgraded Andersons from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Andersons from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $85.00.

Insider Activity

In other Andersons news, Director Patrick E. Bowe sold 16,466 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $80.76, for a total value of $1,329,794.16. Following the completion of the transaction, the director directly owned 78,409 shares of the company’s stock, valued at approximately $6,332,310.84. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Andersons

Several institutional investors have recently modified their holdings of ANDE. Rubric Capital Management LP acquired a new stake in Andersons during the 4th quarter valued at $53,469,000. Ophir Asset Management Pty Ltd acquired a new position in shares of Andersons in the fourth quarter valued at $38,746,000. Victory Capital Management Inc. raised its position in shares of Andersons by 354.7% in 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 purchasing an additional 570,245 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Andersons by 82.1% during the 4th quarter. Janus Henderson Group PLC now owns 637,342 shares of the basic materials company’s stock worth $33,875,000 after buying an additional 287,304 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Andersons by 162.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 438,219 shares of the basic materials company’s stock worth $17,445,000 after buying an additional 271,451 shares during the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

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.