The Andersons, Inc. (NASDAQ:ANDE) Position Raised by Summit Global Investments

Summit Global Investments grew its position in shares of The Andersons, Inc. (NASDAQ:ANDE) by 41.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,088 shares of the basic materials company’s stock after acquiring an additional 3,840 shares during the quarter. Summit Global Investments’ holdings in Andersons were worth $656,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Andersons by 8.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock valued at $185,390,000 after purchasing an additional 303,711 shares during the period. American Century Companies Inc. raised its holdings in shares of Andersons by 16.8% during the second quarter. American Century Companies Inc. now owns 933,968 shares of the basic materials company’s stock valued at $46,325,000 after buying an additional 134,126 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Andersons during the second quarter worth approximately $2,311,000. Victory Capital Management Inc. increased its position in Andersons by 8.7% in the 2nd quarter. Victory Capital Management Inc. now owns 456,624 shares of the basic materials company’s stock valued at $22,649,000 after acquiring an additional 36,594 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new stake in Andersons during the 2nd quarter valued at $1,040,000. Institutional investors own 87.06% of the company’s stock.

Andersons Stock Up 1.5 %

ANDE stock opened at $48.93 on Friday. The firm’s 50-day moving average is $48.21 and its two-hundred day moving average is $49.98. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.98 and a beta of 0.60. The Andersons, Inc. has a 52 week low of $41.76 and a 52 week high of $61.46. The company has a current ratio of 1.98, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Andersons (NASDAQ:ANDE) last released its earnings results on Monday, November 4th. The basic materials company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.37. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.90 billion. Andersons had a return on equity of 8.21% and a net margin of 1.06%. The firm’s revenue for the quarter was down 27.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share.

Andersons Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.76 annualized dividend and a yield of 1.55%. Andersons’s dividend payout ratio is currently 21.71%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Andersons from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

About Andersons

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.