19,035 Shares in The Andersons, Inc. $ANDE Purchased by Summit Global Investments

Summit Global Investments purchased a new position in The Andersons, Inc. (NASDAQ:ANDE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,035 shares of the basic materials company’s stock, valued at approximately $1,302,000. Summit Global Investments owned approximately 0.06% of Andersons at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rubric Capital Management LP acquired a new position in shares of Andersons in the 4th quarter worth approximately $53,469,000. Ophir Asset Management Pty Ltd acquired a new stake in Andersons during the fourth quarter valued at approximately $38,746,000. Victory Capital Management Inc. lifted its stake in Andersons by 354.7% during 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 last quarter. Janus Henderson Group PLC boosted its holdings in Andersons by 82.1% during the fourth 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Andersons by 162.8% during the third 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 in the last quarter. 87.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Andersons in a report on Monday, June 15th. Texas Capital raised Andersons to a “strong-buy” rating in a research note on Thursday, June 18th. Wall Street Zen upgraded Andersons from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft set a $110.00 target price on Andersons in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group downgraded Andersons to a “buy” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $95.00.

Insider Transactions at Andersons

In other news, Director Patrick E. Bowe sold 3,534 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $80.53, for a total value of $284,593.02. Following the completion of the sale, the director owned 74,875 shares in the company, valued at $6,029,683.75. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is currently owned by company insiders.

Andersons Stock Performance

Andersons stock opened at $65.90 on Friday. The Andersons, Inc. has a fifty-two week low of $37.69 and a fifty-two week high of $82.11. The firm’s 50 day simple moving average is $71.23 and its 200-day simple moving average is $70.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.51 and a quick ratio of 0.81. The company has a market cap of $2.24 billion, a P/E ratio of 12.72 and a beta of 0.66.

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

Andersons Announces Dividend

The company also recently announced 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 1.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Andersons’s payout ratio is 15.44%.

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.