Summit Global Investments Purchases 799 Shares of The Andersons, Inc. (NASDAQ:ANDE)

Summit Global Investments grew its position in shares of The Andersons, Inc. (NASDAQ:ANDE) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,248 shares of the basic materials company’s stock after purchasing an additional 799 shares during the period. Summit Global Investments’ holdings in Andersons were worth $459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANDE. CWM LLC raised its position in Andersons by 8,577.4% in the 4th quarter. CWM LLC now owns 19,611 shares of the basic materials company’s stock worth $1,128,000 after purchasing an additional 19,385 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Andersons by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 683,933 shares of the basic materials company’s stock valued at $39,354,000 after acquiring an additional 18,482 shares during the last quarter. Chesapeake Capital Corp IL purchased a new stake in Andersons during the 4th quarter valued at about $999,000. Mackenzie Financial Corp purchased a new stake in Andersons during the 4th quarter valued at about $215,000. Finally, TD Asset Management Inc grew its position in Andersons by 18.4% during the 4th quarter. TD Asset Management Inc now owns 33,500 shares of the basic materials company’s stock worth $1,928,000 after acquiring an additional 5,200 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Andersons from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

Andersons Trading Up 0.6 %

Shares of NASDAQ:ANDE traded up $0.31 during midday trading on Wednesday, hitting $49.06. 44,679 shares of the stock traded hands, compared to its average volume of 176,191. The company has a quick ratio of 1.13, a current ratio of 2.04 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $49.72 and its two-hundred day moving average is $52.69. The stock has a market capitalization of $1.67 billion, a PE ratio of 13.77 and a beta of 0.61. The Andersons, Inc. has a one year low of $45.07 and a one year high of $61.46.

Andersons (NASDAQ:ANDE) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.04). Andersons had a return on equity of 7.93% and a net margin of 0.89%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the business posted $1.52 EPS. The company’s quarterly revenue was down 30.5% compared to the same quarter last year.

Andersons Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, October 1st. Andersons’s payout ratio is currently 21.47%.

Andersons Profile

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.