Redmont Wealth Advisors LLC Raises Stock Holdings in The Andersons, Inc. (NASDAQ:ANDE)

Redmont Wealth Advisors LLC boosted its stake in The Andersons, Inc. (NASDAQ:ANDE) by 34.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,558 shares of the basic materials company’s stock after purchasing an additional 3,952 shares during the quarter. Andersons comprises approximately 1.3% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 18th biggest holding. Redmont Wealth Advisors LLC’s holdings in Andersons were worth $895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. C M Bidwell & Associates Ltd. purchased a new position in shares of Andersons in the 3rd quarter worth about $33,000. Federated Hermes Inc. boosted its stake in Andersons by 762.0% in the first quarter. Federated Hermes Inc. now owns 681 shares of the basic materials company’s stock worth $34,000 after buying an additional 602 shares in the last quarter. Lazard Asset Management LLC bought a new position in Andersons during the fourth quarter valued at approximately $40,000. Money Concepts Capital Corp raised its stake in shares of Andersons by 817.4% during the fourth quarter. Money Concepts Capital Corp now owns 1,266 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 1,128 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Andersons by 60.6% during the third quarter. Tower Research Capital LLC TRC now owns 1,511 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 570 shares in the last quarter. 87.06% of the stock is owned by hedge funds and other institutional investors.

Andersons Trading Up 2.4 %

Shares of Andersons stock traded up $1.35 on Friday, hitting $57.75. The stock had a trading volume of 63,400 shares, compared to its average volume of 180,537. The stock’s 50-day simple moving average is $55.22 and its two-hundred day simple moving average is $53.34. The Andersons, Inc. has a one year low of $35.69 and a one year high of $58.84. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 19.40 and a beta of 0.68.

Andersons (NASDAQ:ANDE) last released its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.48. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Andersons had a net margin of 0.69% and a return on equity of 8.19%. The company’s revenue for the quarter was down 31.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 earnings per share. As a group, sell-side analysts predict that The Andersons, Inc. will post 2.54 EPS for the current year.

Andersons Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 1st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, March 28th. Andersons’s payout ratio is 25.85%.

Insider Buying and Selling at Andersons

In other news, CEO Patrick E. Bowe sold 34,597 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $55.46, for a total value of $1,918,749.62. Following the sale, the chief executive officer now directly owns 83,515 shares of the company’s stock, valued at $4,631,741.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Andersons news, CEO Patrick E. Bowe sold 1,338 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $55.12, for a total transaction of $73,750.56. Following the transaction, the chief executive officer now owns 89,315 shares in the company, valued at approximately $4,923,042.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick E. Bowe sold 34,597 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $55.46, for a total transaction of $1,918,749.62. Following the transaction, the chief executive officer now owns 83,515 shares in the company, valued at approximately $4,631,741.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,858 shares of company stock valued at $2,153,845. 5.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ANDE has been the subject of a number of research reports. Roth Capital reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Andersons in a research note on Tuesday, February 6th. StockNews.com upgraded shares of Andersons from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $62.50.

About Andersons

The Andersons, Inc operates in trade, renewables, and nutrient and industrial sectors in the United States, Canada, Mexico, Egypt, Switzerland, and internationally. It operates through three segments: Trade, Renewables, and Nutrient & Industrial. The company's Trade segment operates grain elevators; stores commodities; and provides grain marketing, risk management, and origination services, as well as sells commodities, such as corn, soybeans, wheat, oats, ethanol, and corn oil.