Jupiter Topco LLC Buys Shares of 798,215 The Andersons, Inc. $ANDE

Key Points

• Jupiter Topco LLC acquired 798,215 shares of The Andersons in the second quarter, worth approximately $54.6 million and representing about 2.34% of the company. Institutional investors collectively own 87.06% of the stock.
• Andersons reported quarterly EPS of $2.15, exceeding the $1.48 consensus estimate, although revenue of $3.10 billion fell short of expectations and declined 1.2% year over year.
• The company declared a quarterly dividend of $0.20, equivalent to an annualized $0.80 payment and a 1.3% yield. Analysts maintain a consensus “Buy” rating with an average price target of $95, compared with the shares’ recent $63.73 price.

Jupiter Topco LLC bought a new position in The Andersons, Inc. (NASDAQ:ANDE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 798,215 shares of the basic materials company's stock, valued at approximately $54,610,000. Jupiter Topco LLC owned about 2.34% of Andersons as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Andersons in the second quarter valued at about $427,688,000. Rubric Capital Management LP acquired a new stake in Andersons during the fourth quarter worth about $53,469,000. Ophir Asset Management Pty Ltd purchased a new position in Andersons during the fourth quarter worth about $38,746,000. Victory Capital Management Inc. raised its stake in Andersons by 354.7% during the fourth quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company's stock worth $38,868,000 after purchasing an additional 570,245 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Andersons in the 2nd quarter valued at about $20,628,000. Hedge funds and other institutional investors own 87.06% of the company's stock.

Andersons Price Performance

Shares of ANDE opened at $63.73 on Friday. The firm has a 50-day simple moving average of $70.43 and a two-hundred day simple moving average of $70.63. The stock has a market cap of $2.17 billion, a PE ratio of 12.30 and a beta of 0.66. The Andersons, Inc. has a 1-year low of $37.69 and a 1-year high of $82.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.51 and a quick ratio of 0.81.

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

Andersons Announces Dividend

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

Analyst Ratings Changes

ANDE has been the subject of several analyst reports. Texas Capital raised shares of Andersons to a "strong-buy" rating in a research note on Thursday, June 18th. Benchmark reaffirmed a "buy" rating on shares of Andersons in a research report on Monday, June 15th. UBS Group set a $90.00 price objective on Andersons in a report on Wednesday, May 20th. The Goldman Sachs Group lowered Andersons to a "buy" rating in a research report on Thursday, June 18th. Finally, BMO Capital Markets raised their target price on Andersons from $75.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $95.00.

Insider Buying and Selling

In other Andersons 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 directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is owned by company insiders.

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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