Bank of New York Mellon Corp Lowers Position in The Andersons, Inc. $ANDE

Bank of New York Mellon Corp cut its stake in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 296,099 shares of the basic materials company's stock after selling 15,953 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of Andersons worth $21,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Andersons by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,349,243 shares of the basic materials company's stock worth $124,910,000 after buying an additional 17,278 shares during the period. Rubric Capital Management LP purchased a new stake in Andersons during the 4th quarter valued at $53,469,000. Geode Capital Management LLC grew its holdings in Andersons by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 822,812 shares of the basic materials company's stock worth $43,757,000 after acquiring an additional 3,259 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Andersons by 354.7% in the fourth quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company's stock valued at $38,868,000 after acquiring an additional 570,245 shares during the period. Finally, Ophir Asset Management Pty Ltd bought a new position in shares of Andersons during the fourth quarter valued at about $38,746,000. 87.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Andersons news, Director Patrick E. Bowe sold 19,100 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $78.31, for a total value of $1,495,721.00. Following the completion of the sale, the director owned 94,875 shares in the company, valued at $7,429,661.25. This represents a 16.76% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 39,100 shares of company stock valued at $3,110,108. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ANDE shares. Weiss Ratings upgraded shares of Andersons from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 7th. UBS Group set a $90.00 price objective on shares of Andersons in a report on Wednesday, May 20th. The Goldman Sachs Group lowered shares of Andersons to a "buy" rating in a research note on Thursday, June 18th. Benchmark reissued a "buy" rating on shares of Andersons in a research note on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Andersons from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Andersons currently has a consensus rating of "Buy" and an average price target of $85.00.

Andersons Trading Down 1.9%

NASDAQ:ANDE opened at $73.19 on Wednesday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 19.47 and a beta of 0.65. The company has a quick ratio of 0.62, a current ratio of 1.37 and a debt-to-equity ratio of 0.43. The company's 50 day moving average price is $72.15 and its 200-day moving average price is $69.49. The Andersons, Inc. has a 52 week low of $31.84 and a 52 week high of $82.11.

Andersons (NASDAQ:ANDE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.42. Andersons had a net margin of 1.17% and a return on equity of 10.68%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the business posted $0.12 earnings per share. The business's revenue for the quarter was down 1.2% on a year-over-year basis.

Andersons Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Andersons's dividend payout ratio (DPR) is currently 21.28%.

Andersons 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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