Andersons (NASDAQ:ANDE) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Andersons (NASDAQ:ANDE) from a hold rating to a buy rating in a research note published on Thursday.

Andersons Price Performance

ANDE opened at $47.08 on Thursday. The company has a quick ratio of 1.13, a current ratio of 2.04 and a debt-to-equity ratio of 0.38. Andersons has a 52-week low of $45.07 and a 52-week high of $61.46. The company has a 50 day moving average of $49.94 and a two-hundred day moving average of $52.90. The company has a market cap of $1.60 billion, a P/E ratio of 13.30 and a beta of 0.61.

Andersons (NASDAQ:ANDE) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). Andersons had a return on equity of 7.93% and a net margin of 0.89%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The company’s revenue for the quarter was down 30.5% on a year-over-year basis.

Andersons Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.76 annualized dividend and a yield of 1.61%. Andersons’s dividend payout ratio is presently 21.47%.

Institutional Trading of Andersons

Several institutional investors have recently added to or reduced their stakes in ANDE. Mirae Asset Global Investments Co. Ltd. raised its holdings in Andersons by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,686 shares of the basic materials company’s stock valued at $845,000 after acquiring an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Andersons by 111.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 88,336 shares of the basic materials company’s stock valued at $5,083,000 after acquiring an additional 46,587 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Andersons during the fourth quarter worth $915,000. Cornercap Investment Counsel Inc. raised its holdings in shares of Andersons by 1.6% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 13,790 shares of the basic materials company’s stock worth $793,000 after purchasing an additional 222 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Andersons during the fourth quarter worth $215,000. 87.06% of the stock is owned by institutional investors and hedge funds.

Andersons Company 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.