Hsbc Holdings PLC Acquires New Stake in The Andersons, Inc. $ANDE

Hsbc Holdings PLC acquired a new stake in The Andersons, Inc. (NASDAQ:ANDE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 49,792 shares of the basic materials company’s stock, valued at approximately $3,452,000. Hsbc Holdings PLC owned 0.15% of Andersons as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Andersons during the second quarter worth about $427,688,000. Rubric Capital Management LP acquired a new stake in Andersons in the fourth quarter valued at about $53,469,000. Ophir Asset Management Pty Ltd purchased a new stake in Andersons in the 4th quarter valued at approximately $38,746,000. Victory Capital Management Inc. boosted its holdings in Andersons by 354.7% in the 4th 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 in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Andersons during the 2nd quarter worth approximately $20,628,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Andersons Stock Performance

Shares of ANDE stock opened at $64.56 on Friday. The stock has a fifty day moving average price of $70.30 and a 200 day moving average price of $70.59. 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 stock has a market cap of $2.20 billion, a PE ratio of 12.46 and a beta of 0.66. The Andersons, Inc. has a 1 year low of $37.69 and a 1 year high of $82.11.

Andersons (NASDAQ:ANDE) last posted its earnings results on Monday, August 3rd. The basic materials company reported $2.15 earnings per share for the quarter, beating 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 company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. Andersons’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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 1st. Andersons’s dividend payout ratio is presently 15.44%.

Insiders Place Their Bets

In other Andersons news, Director Patrick E. Bowe sold 3,534 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $80.53, for a total transaction of $284,593.02. Following the completion of the transaction, the director directly 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 transaction 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. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

ANDE has been the subject of several recent analyst reports. Texas Capital raised Andersons to a “strong-buy” rating in a report on Thursday, June 18th. Wall Street Zen raised Andersons from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft set a $110.00 price objective on Andersons in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Andersons from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group cut shares of Andersons to a “buy” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $95.00.

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.