Bank of New York Mellon Corp Sells 8,326 Shares of The Andersons, Inc. (NASDAQ:ANDE)

Bank of New York Mellon Corp lessened its holdings in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 2.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 344,945 shares of the basic materials company's stock after selling 8,326 shares during the quarter. Bank of New York Mellon Corp owned about 1.01% of Andersons worth $14,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL bought a new position in shares of Andersons in the fourth quarter valued at approximately $591,000. Allspring Global Investments Holdings LLC boosted its position in shares of Andersons by 148.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,992 shares of the basic materials company's stock valued at $737,000 after acquiring an additional 10,147 shares during the period. Yousif Capital Management LLC boosted its position in shares of Andersons by 2.0% in the first quarter. Yousif Capital Management LLC now owns 13,732 shares of the basic materials company's stock valued at $590,000 after acquiring an additional 275 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Andersons in the fourth quarter valued at approximately $728,000. Finally, Two Sigma Investments LP bought a new position in shares of Andersons in the fourth quarter valued at approximately $690,000. Institutional investors own 87.06% of the company's stock.

Andersons Trading Down 0.8%

Andersons stock traded down $0.29 during mid-day trading on Friday, hitting $36.16. The company's stock had a trading volume of 184,429 shares, compared to its average volume of 277,173. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 0.89. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 11.41 and a beta of 0.75. The business has a 50 day moving average price of $36.26 and a 200-day moving average price of $39.30. The Andersons, Inc. has a 12 month low of $31.03 and a 12 month high of $55.52.

Andersons (NASDAQ:ANDE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The basic materials company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.20. Andersons had a net margin of 0.97% and a return on equity of 7.35%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts forecast that The Andersons, Inc. will post 3.11 EPS for the current year.

Andersons Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, July 1st. Andersons's payout ratio is 24.61%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ANDE. Lake Street Capital lowered their target price on shares of Andersons from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Andersons from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, BMO Capital Markets began coverage on shares of Andersons in a research note on Tuesday, May 6th. They issued a "market perform" rating and a $45.00 target price on the stock.

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.