Andersons Inc Plans Quarterly Dividend of $0.18 (NASDAQ:ANDE)
Andersons Inc (NASDAQ:ANDE) declared a quarterly dividend on Friday, June 26th, Wall Street Journal reports. Shareholders of record on Monday, July 6th will be given a dividend of 0.175 per share by the basic materials company on Wednesday, July 22nd. This represents a $0.70 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Thursday, July 2nd.
Andersons has increased its dividend payment by an average of 878.6% annually over the last three years and has raised its dividend every year for the last 5 years. Andersons has a dividend payout ratio of -65.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Andersons to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 59.8%.
Shares of ANDE opened at $13.55 on Tuesday. Andersons has a 52-week low of $10.00 and a 52-week high of $28.82. The business’s fifty day moving average is $13.30 and its 200-day moving average is $18.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 1.32. The firm has a market cap of $428.36 million, a price-to-earnings ratio of -75.28 and a beta of 0.76.
In related news, insider William E. Krueger bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $12.98 per share, with a total value of $129,800.00. Following the acquisition, the insider now owns 132,783 shares of the company’s stock, valued at $1,723,523.34. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen F. Dowdle bought 4,500 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were bought at an average cost of $14.39 per share, for a total transaction of $64,755.00. Following the completion of the acquisition, the director now directly owns 21,065 shares in the company, valued at approximately $303,125.35. The disclosure for this purchase can be found here. Insiders have purchased a total of 42,013 shares of company stock worth $549,662 in the last 90 days. 7.10% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently weighed in on the company. TheStreet lowered Andersons from a “c” rating to a “d+” rating in a research report on Tuesday, May 5th. BidaskClub lowered Andersons from a “sell” rating to a “strong sell” rating in a research report on Friday, May 15th. Finally, Zacks Investment Research lowered Andersons from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Andersons has an average rating of “Hold” and a consensus price target of $20.67.
The Andersons, Inc, an agriculture company, operates in the grain, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Grain segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.
Further Reading: How To Calculate Debt-to-Equity Ratio
Receive News & Ratings for Andersons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Andersons and related companies with MarketBeat.com's FREE daily email newsletter.