17,498 Shares in The Andersons, Inc. $ANDE Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in The Andersons, Inc. (NASDAQ:ANDE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,498 shares of the basic materials company’s stock, valued at approximately $1,197,000. The Manufacturers Life Insurance Company owned 0.05% of Andersons as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Optimize Financial Inc increased its stake in shares of Andersons by 1.4% during the 4th 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 last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Andersons by 95.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 820 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 400 shares during the period. Uniplan Investment Counsel Inc. purchased a new position in Andersons in the fourth quarter valued at approximately $25,000. Amundi lifted its stake in Andersons by 2.0% in the fourth quarter. Amundi now owns 24,085 shares of the basic materials company’s stock valued at $1,281,000 after purchasing an additional 474 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Andersons during the second quarter valued at $38,000. 87.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ANDE has been the topic of several research reports. Texas Capital upgraded Andersons to a “strong-buy” rating in a research note on Thursday, June 18th. Weiss Ratings downgraded Andersons from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. The Goldman Sachs Group lowered Andersons to a “buy” rating in a report on Thursday, June 18th. BMO Capital Markets boosted their price objective on Andersons from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Andersons from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $95.00.

Andersons Stock Performance

NASDAQ:ANDE opened at $69.31 on Friday. The business’s fifty day moving average is $70.05 and its 200 day moving average is $70.59. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 13.38 and a beta of 0.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.51. The Andersons, Inc. has a 52-week low of $37.69 and a 52-week high of $82.11.

Andersons (NASDAQ:ANDE) last issued its earnings results on Monday, August 3rd. The basic materials company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.48 by $0.67. Andersons had a return on equity of 16.23% and a net margin of 1.62%.The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year.

Andersons Dividend Announcement

The firm also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 1st. Andersons’s dividend payout ratio (DPR) is 15.44%.

Insider Buying and Selling at Andersons

In other 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 transaction of $284,593.02. Following the completion of the sale, the director owned 74,875 shares in the company, valued at approximately $6,029,683.75. This trade represents a 4.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is currently owned by insiders.

Andersons 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.