Empowered Funds LLC Buys Shares of 202,006 The Andersons, Inc. $ANDE

Key Points

• Empowered Funds LLC bought 202,006 Andersons shares worth approximately $13.8 million, while institutional investors collectively own 87.06% of the company.
• Andersons reported quarterly EPS of $2.15, beating estimates of $1.48, though revenue fell 1.2% year over year to $3.10 billion. The company also declared a quarterly dividend of $0.20 per share, implying a 1.2% yield.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Buy” rating and a $95 average price target versus its reported $64.56 share price.

Empowered Funds LLC bought a new stake in The Andersons, Inc. (NASDAQ:ANDE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 202,006 shares of the basic materials company's stock, valued at approximately $13,777,000. Empowered Funds LLC owned approximately 0.59% of Andersons as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of ANDE. BlackRock Inc. purchased a new stake in shares of Andersons during the second quarter worth about $427,688,000. Dimensional Fund Advisors LP lifted its stake in shares of Andersons by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,349,243 shares of the basic materials company's stock valued at $124,910,000 after buying an additional 17,278 shares during the period. Rubric Capital Management LP purchased a new position in shares of Andersons during the fourth quarter valued at approximately $53,469,000. Janus Henderson Group PLC boosted its position in Andersons by 35.1% during the first quarter. Janus Henderson Group PLC now owns 860,942 shares of the basic materials company's stock worth $61,768,000 after acquiring an additional 223,600 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake 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 period. Institutional investors and hedge funds own 87.06% of the company's stock.

Andersons Trading Up 1.3%

Shares of ANDE opened at $64.56 on Friday. The Andersons, Inc. has a 12 month low of $37.69 and a 12 month high of $82.11. The stock's 50-day moving average is $70.30 and its two-hundred day moving average is $70.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.51 and a quick ratio of 0.81. The stock has a market cap of $2.20 billion, a PE ratio of 12.46 and a beta of 0.66.

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 for the quarter, beating the consensus estimate of $1.48 by $0.67. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.28 billion. Andersons had a net margin of 1.62% and a return on equity of 16.23%. The business's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share.

Andersons Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.20 per share. 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 dividend payout ratio is 15.44%.

Insider Activity

In related news, Director Patrick E. Bowe sold 3,534 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $80.53, for a total transaction of $284,593.02. Following the sale, the director owned 74,875 shares in the company, valued at $6,029,683.75. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ANDE. BMO Capital Markets upped their price objective on shares of Andersons from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Andersons from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft set a $110.00 price target on shares of Andersons in a research report on Tuesday, August 4th. The Goldman Sachs Group downgraded shares of Andersons to a "buy" rating in a research note on Thursday, June 18th. Finally, UBS Group set a $90.00 price target on shares of Andersons in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat, Andersons has a consensus rating of "Buy" and a consensus target price of $95.00.

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.

Want to see what other hedge funds are holding ANDE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Andersons, Inc. (NASDAQ:ANDE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source