Connor Clark & Lunn Investment Management Ltd. Invests $6.04 Million in The Andersons, Inc. $ANDE

Key Points

• Connor Clark & Lunn Investment Management acquired 88,374 shares of The Andersons worth approximately $6.04 million, while institutional investors collectively own 87.06% of the company.
• Analysts maintain a bullish outlook, with a consensus “Buy” rating and a target price of $95; UBS and BMO Capital Markets each set a $90 target.
• Andersons reported quarterly EPS of $2.15, exceeding estimates of $1.48, and declared a quarterly dividend of $0.20 per share, equivalent to a 1.3% annualized yield.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 88,374 shares of the basic materials company's stock, valued at approximately $6,045,000. Connor Clark & Lunn Investment Management Ltd. owned 0.26% of Andersons at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. PEAK6 LLC bought a new position in Andersons in the second quarter worth $457,000. Compass Financial Management LLC bought a new stake in Andersons in the 2nd quarter valued at $1,587,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Andersons in the 2nd quarter valued at $82,000. Quantbot Technologies LP acquired a new position in shares of Andersons in the 2nd quarter valued at $1,943,000. Finally, De Lisle Partners LLP bought a new position in shares of Andersons during the 2nd quarter worth about $3,371,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group set a $90.00 target price on shares of Andersons in a research report on Wednesday, May 20th. Benchmark restated a "buy" rating on shares of Andersons in a research note on Monday, June 15th. Weiss Ratings raised Andersons from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Wall Street Zen upgraded Andersons from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Finally, BMO Capital Markets increased their target price on Andersons from $75.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $95.00.

Insider Buying and Selling at Andersons

In other news, Director Patrick E. 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 transaction of $284,593.02. Following the transaction, the director owned 74,875 shares of the company's stock, valued at $6,029,683.75. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is currently owned by insiders.

Andersons Price Performance

Andersons stock opened at $63.73 on Friday. 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 firm has a market cap of $2.17 billion, a P/E ratio of 12.30 and a beta of 0.66. The Andersons, Inc. has a 52 week low of $37.69 and a 52 week high of $82.11. The business's fifty day moving average is $70.43 and its two-hundred day moving average is $70.63.

Andersons (NASDAQ:ANDE - Get Free Report) last announced its earnings results 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 net margin of 1.62% and a return on equity of 16.23%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the business earned $0.24 earnings per share. Andersons's quarterly revenue was down 1.2% on a year-over-year basis.

Andersons Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. Andersons's payout ratio is presently 15.44%.

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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