The Andersons, Inc. $ANDE Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has cut its stake in The Andersons, Inc. by 52.5%, holding approximately 100,012 shares worth $4,294,000 after selling 110,700 shares in the 1st quarter.
• Analysts have set new price targets for The Andersons, with Lake Street Capital lowering its target from $70 to $55, while BMO Capital Markets set a target of $45.
• The company will pay a quarterly dividend of $0.195 on October 22, reflecting a dividend yield of 1.9% based on an annualized basis.

Panagora Asset Management Inc. reduced its stake in The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 52.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,012 shares of the basic materials company's stock after selling 110,700 shares during the quarter. Panagora Asset Management Inc. owned 0.29% of Andersons worth $4,294,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ANDE. GAMMA Investing LLC lifted its holdings in shares of Andersons by 426.2% during the first quarter. GAMMA Investing LLC now owns 1,805 shares of the basic materials company's stock worth $77,000 after purchasing an additional 1,462 shares during the period. Point72 Hong Kong Ltd purchased a new position in Andersons during the 4th quarter worth $189,000. Mutual of America Capital Management LLC acquired a new stake in shares of Andersons in the 1st quarter worth $201,000. 1492 Capital Management LLC purchased a new stake in shares of Andersons in the first quarter valued at about $208,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Andersons during the fourth quarter worth about $212,000. Institutional investors and hedge funds own 87.06% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Andersons from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Andersons presently has an average rating of "Moderate Buy" and a consensus price target of $51.67.

Andersons Price Performance

Shares of NASDAQ ANDE traded down $0.09 during trading on Friday, hitting $41.40. 305,594 shares of the company were exchanged, compared to its average volume of 234,746. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.01 and a quick ratio of 1.30. The Andersons, Inc. has a 1 year low of $31.03 and a 1 year high of $51.58. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 17.62 and a beta of 0.67. The firm's fifty day moving average price is $38.12 and its 200 day moving average price is $38.35.

Andersons (NASDAQ:ANDE - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.29). The company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $2.86 billion. Andersons had a net margin of 0.70% and a return on equity of 5.28%. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. On average, sell-side analysts expect that The Andersons, Inc. will post 3.11 earnings per share for the current fiscal year.

Andersons Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.78 annualized dividend and a dividend yield of 1.9%. Andersons's payout ratio is 33.19%.

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.