Bank of America Corp DE Makes New $11.77 Million Investment in The Andersons, Inc. $ANDE

Key Points

• Bank of America initiated an $11.77 million stake in The Andersons during the second quarter, purchasing 172,137 shares, while institutional investors collectively owned 87.06% of the company.
• Andersons reported quarterly EPS of $2.15, beating estimates of $1.48, although revenue declined 1.2% year over year to $3.10 billion.
• The company declared a quarterly dividend of $0.20, equivalent to an annualized $0.80 payout and a 1.2% yield. Analysts maintain a consensus “Buy” rating with an average price target of $95, versus the stock’s reported $66.97 price.

Bank of America Corp DE purchased a new stake in The Andersons, Inc. (NASDAQ:ANDE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 172,137 shares of the basic materials company's stock, valued at approximately $11,774,000. Bank of America Corp DE owned about 0.51% of Andersons at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANDE. BlackRock Inc. bought a new position in shares of Andersons in the 2nd quarter valued at about $427,688,000. Jupiter Topco LLC bought a new position in Andersons in the second quarter valued at approximately $54,610,000. Bank of New York Mellon Corp acquired a new position in shares of Andersons during the 2nd quarter worth approximately $20,628,000. Man Group plc bought a new stake in shares of Andersons during the 2nd quarter worth approximately $15,490,000. Finally, Janus Henderson Group PLC raised its stake in shares of Andersons by 35.1% during the 1st quarter. Janus Henderson Group PLC now owns 860,942 shares of the basic materials company's stock worth $61,768,000 after purchasing an additional 223,600 shares in the last quarter. 87.06% of the stock is owned by institutional investors.

Andersons Stock Up 0.3%

Andersons stock opened at $66.97 on Friday. The company's 50-day moving average price is $69.62 and its two-hundred day moving average price is $71.06. The company has a quick ratio of 0.81, a current ratio of 1.51 and a debt-to-equity ratio of 0.42. The stock has a market cap of $2.28 billion, a P/E ratio of 12.93 and a beta of 0.63. The Andersons, Inc. has a twelve month low of $39.16 and a twelve month high of $82.11.

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

Andersons Dividend Announcement

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

Insider Transactions at Andersons

In other Andersons news, Director Patrick Bowe sold 3,534 shares of the company's 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 transaction, the director directly owned 74,875 shares of the company's stock, valued at $6,029,683.75. This represents a 4.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on ANDE. Deutsche Bank Aktiengesellschaft set a $110.00 target price on shares of Andersons in a research note on Tuesday, August 4th. Texas Capital upgraded shares of Andersons to a "strong-buy" rating in a research note on Thursday, June 18th. Weiss Ratings downgraded shares of Andersons from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, September 1st. Benchmark restated a "buy" rating on shares of Andersons in a research note on Monday, June 15th. Finally, Wall Street Zen cut shares of Andersons from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $95.00.

Andersons Company Profile

The Andersons, Inc is an agriculture-focused company headquartered in Maumee, Ohio. Founded in 1947, the company serves farmers, manufacturers, food and feed producers, and other customers through businesses connected to grain, plant nutrients, and renewable fuels.

The company's activities include merchandising and storing grains, supplying agricultural fertilizers and related plant-nutrient products, and producing and marketing ethanol and other renewable fuel products. Its operations also support the movement and processing of agricultural commodities through grain terminals, elevators, and logistics services.

The Andersons serves customers primarily across the United States, with operations and commercial relationships extending into Canada and other markets.

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