301,573 Shares in The Andersons, Inc. $ANDE Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in The Andersons, Inc. (NASDAQ:ANDE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 301,573 shares of the basic materials company's stock, valued at approximately $20,628,000. Bank of New York Mellon Corp owned 0.89% of Andersons as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Uniplan Investment Counsel Inc. acquired a new position in shares of Andersons during the fourth quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Andersons in the 2nd quarter valued at $38,000. Larson Financial Group LLC raised its holdings in shares of Andersons by 33,600.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,011 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 1,008 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Andersons by 95.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 820 shares of the basic materials company's stock worth $44,000 after purchasing an additional 400 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Andersons during the 4th quarter worth $70,000. Institutional investors and hedge funds own 87.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BMO Capital Markets raised their price target on Andersons from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Andersons from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Texas Capital raised Andersons to a "strong-buy" rating in a research report on Thursday, June 18th. UBS Group set a $90.00 target price on Andersons in a research note on Wednesday, May 20th. Finally, Wall Street Zen raised Andersons from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $95.00.

Andersons Price Performance

Shares of NASDAQ ANDE opened at $64.56 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.51. The company's fifty day moving average is $70.30 and its two-hundred day moving average is $70.61. The Andersons, Inc. has a one year low of $37.69 and a one year high of $82.11. The firm has a market capitalization of $2.20 billion, a P/E ratio of 12.46 and a beta of 0.66.

Andersons (NASDAQ:ANDE - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The basic materials company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.48 by $0.67. Andersons had a return on equity of 16.23% and a net margin of 1.62%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The company's quarterly revenue was down 1.2% on a year-over-year basis.

Andersons Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 1st. Andersons's payout ratio is currently 15.44%.

Insiders Place Their Bets

In other news, Director Patrick E. Bowe sold 3,534 shares of Andersons stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $80.53, for a total value of $284,593.02. Following the completion of the sale, the director owned 74,875 shares of the company's stock, valued at $6,029,683.75. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.30% of the company's stock.

Andersons Company Profile

The Andersons, Inc operates as a diversified agriculture company offering a broad range of products and services to farmers, retailers and industrial customers. Through its Grain Group, the company purchases, stores, merchandises and transports corn, soybeans and other commodities, while its Renewables Group produces ethanol and distillers grains at multiple plants in the U.S. The Rail Group provides locomotive leasing, railcar repair and related maintenance services, and the Horticulture Group supplies turf, specialty and horticultural products to landscaping professionals and consumer lawn and garden retailers.

Founded in 1947 and headquartered in Maumee, Ohio, The Andersons has grown from a regional grain elevator operator into an integrated agribusiness platform.

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