Bank of New York Mellon Corp decreased its position in shares of Andersons Inc (NASDAQ:ANDE) by 4.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 420,541 shares of the basic materials company’s stock after selling 19,885 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.48% of Andersons worth $14,404,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan grew its holdings in Andersons by 22.6% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 20,140 shares of the basic materials company’s stock valued at $690,000 after purchasing an additional 3,710 shares during the last quarter. Sei Investments Co. boosted its position in Andersons by 193.4% in the 3rd quarter. Sei Investments Co. now owns 14,751 shares of the basic materials company’s stock valued at $1,269,000 after buying an additional 9,724 shares during the period. BNP Paribas Arbitrage SA boosted its position in Andersons by 43.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 14,909 shares of the basic materials company’s stock valued at $511,000 after buying an additional 4,520 shares during the period. Keybank National Association OH lifted its position in shares of Andersons by 5.3% in the 3rd quarter. Keybank National Association OH now owns 57,825 shares of the basic materials company’s stock worth $1,981,000 after purchasing an additional 2,925 shares during the period. Finally, IndexIQ Advisors LLC lifted its position in shares of Andersons by 413.0% in the 3rd quarter. IndexIQ Advisors LLC now owns 3,360 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 2,705 shares during the period. Institutional investors own 77.75% of the company’s stock.
Andersons Inc (NASDAQ:ANDE) traded down $0.10 on Friday, reaching $32.65. 136,447 shares of the company’s stock traded hands, compared to its average volume of 127,967. The company has a current ratio of 1.36, a quick ratio of 0.56 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $905.98, a P/E ratio of -54.42 and a beta of 1.29. Andersons Inc has a fifty-two week low of $29.60 and a fifty-two week high of $41.45.
Andersons (NASDAQ:ANDE) last posted its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.07). Andersons had a positive return on equity of 3.91% and a negative net margin of 0.45%. The business had revenue of $836.60 million during the quarter, compared to analysts’ expectations of $899.95 million. During the same period in the prior year, the business posted $0.06 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. sell-side analysts expect that Andersons Inc will post 0.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 23rd. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.165 per share. The ex-dividend date is Friday, December 29th. This is a boost from Andersons’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.02%. Andersons’s dividend payout ratio (DPR) is currently -110.00%.
A number of brokerages have issued reports on ANDE. Zacks Investment Research lowered shares of Andersons from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 16th. BMO Capital Markets cut their price objective on shares of Andersons from $39.00 to $34.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 8th. Finally, Buckingham Research lowered shares of Andersons from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $34.50.
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The Andersons, Inc is a diversified company. The Company conducts business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also produces turf and cob products. The Company operates through segments, including Grain, Ethanol, Rail and Plant Nutrient. Its Grain business operates grain elevators in various states in the United States Corn Belt.
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