The Manufacturers Life Insurance Company Has $4.33 Million Stake in The Andersons, Inc. (NASDAQ:ANDE)

The Manufacturers Life Insurance Company lowered its stake in shares of The Andersons, Inc. (NASDAQ:ANDE) by 1.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 86,339 shares of the basic materials company’s stock after selling 1,665 shares during the period. The Manufacturers Life Insurance Company’s holdings in Andersons were worth $4,329,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Andersons by 8.8% during the second quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock valued at $185,390,000 after acquiring an additional 303,711 shares during the period. American Century Companies Inc. increased its position 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 purchasing an additional 134,126 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Andersons by 23.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 652,579 shares of the basic materials company’s stock valued at $32,720,000 after purchasing an additional 124,468 shares in the last quarter. Victory Capital Management Inc. lifted its position in Andersons by 7.0% in the third quarter. Victory Capital Management Inc. now owns 488,505 shares of the basic materials company’s stock worth $24,494,000 after purchasing an additional 31,881 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Andersons by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 336,714 shares of the basic materials company’s stock worth $16,701,000 after buying an additional 5,983 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ANDE. Stephens upgraded shares of Andersons to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com raised shares of Andersons from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

Andersons Stock Performance

Shares of NASDAQ:ANDE opened at $45.55 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.98 and a quick ratio of 1.23. The business’s fifty day moving average price is $47.77 and its two-hundred day moving average price is $49.07. The Andersons, Inc. has a fifty-two week low of $41.76 and a fifty-two week high of $61.46. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 13.01 and a beta of 0.57.

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

Insider Activity

In other news, insider Joseph E. Mcneely sold 2,382 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $47.73, for a total transaction of $113,692.86. Following the sale, the insider now owns 49,601 shares in the company, valued at approximately $2,367,455.73. This represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.10% of the stock is currently owned by corporate insiders.

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.