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 report issued on Thursday.

Andersons Stock Performance

Shares of NASDAQ:ANDE opened at $46.58 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $48.87 and a 200-day moving average price of $50.73. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 13.16 and a beta of 0.57. Andersons has a 12 month low of $44.65 and a 12 month 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 6.99% and a net margin of 0.83%. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.76 annualized dividend and a dividend yield of 1.63%. Andersons’s dividend payout ratio is 21.47%.

Hedge Funds Weigh In On Andersons

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in Andersons by 11.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 349,172 shares of the basic materials company’s stock valued at $20,091,000 after acquiring an additional 36,146 shares in the last quarter. GAMMA Investing LLC grew its stake in Andersons by 65.8% in the first quarter. GAMMA Investing LLC now owns 524 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 208 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Andersons by 5.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 93,501 shares of the basic materials company’s stock valued at $5,364,000 after buying an additional 5,165 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Andersons by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 170,069 shares of the basic materials company’s stock valued at $9,757,000 after buying an additional 4,650 shares in the last quarter. Finally, Summit Place Financial Advisors LLC grew its position in shares of Andersons by 1.2% in the 1st quarter. Summit Place Financial Advisors LLC now owns 20,616 shares of the basic materials company’s stock worth $1,183,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.

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.