Panagora Asset Management Inc. Lowers Stake in The Andersons, Inc. $ANDE

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. lessened its holdings in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 52.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,012 shares of the basic materials company's stock after selling 110,700 shares during the period. Panagora Asset Management Inc. owned 0.29% of Andersons worth $4,294,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in 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 buying an additional 1,462 shares during the period. Point72 Hong Kong Ltd acquired a new position in Andersons during the fourth quarter worth approximately $189,000. Mutual of America Capital Management LLC acquired a new position in Andersons during the first quarter worth approximately $201,000. 1492 Capital Management LLC acquired a new position in Andersons during the first quarter worth approximately $208,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Andersons during the fourth quarter worth approximately $212,000. Institutional investors and hedge funds own 87.06% of the company's stock.

Andersons Price Performance

ANDE stock traded up $0.88 during midday trading on Thursday, hitting $41.49. 270,795 shares of the stock were exchanged, compared to its average volume of 253,525. The stock's 50-day moving average price is $38.02 and its 200-day moving average price is $38.47. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 17.66 and a beta of 0.67. The Andersons, Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $51.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.30 and a current ratio of 2.01.

Andersons (NASDAQ:ANDE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The basic materials company reported $0.24 earnings per share 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 analyst estimates of $2.86 billion. Andersons had a return on equity of 5.28% and a net margin of 0.70%.The business's revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. Research analysts predict that The Andersons, Inc. will post 3.11 earnings per share for the current year.

Andersons Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ANDE shares. Wall Street Zen downgraded Andersons from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Lake Street Capital lowered their target price on Andersons from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.67.

Andersons Profile

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.