ProShare Advisors LLC Purchases 27,111 Shares of The Andersons, Inc. $ANDE

Key Points

• ProShare Advisors increased its Andersons stake by 27.3%, buying 27,111 shares in the third quarter to hold 126,268 shares valued at about $8.3 million.
• Third-quarter adjusted earnings were $1.38 per share, beating the $1.11 consensus, while revenue rose 5.8% year over year to $2.83 billion but missed estimates. Net income reached a quarterly record of $46 million.
• Andersons agreed to acquire Harvestone Low Carbon Partners for $915 million, adding about 215 million gallons of annual ethanol capacity. Management expects the deal to boost earnings and cash flow immediately, though roughly half the purchase price reflects expected tax-credit cash flows.

ProShare Advisors LLC boosted its position in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 27.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 126,268 shares of the basic materials company's stock after acquiring an additional 27,111 shares during the quarter. ProShare Advisors LLC owned about 0.37% of Andersons worth $8,296,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State of Wyoming boosted its position in Andersons by 27.9% in the third quarter. State of Wyoming now owns 4,108 shares of the basic materials company's stock valued at $270,000 after buying an additional 896 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Andersons in the third quarter worth $469,000. Sterling Capital Management LLC increased its stake in shares of Andersons by 1,002.0% in the third quarter. Sterling Capital Management LLC now owns 6,138 shares of the basic materials company's stock worth $403,000 after acquiring an additional 5,581 shares during the period. James Investment Research Inc. increased its stake in shares of Andersons by 9.0% in the third quarter. James Investment Research Inc. now owns 15,180 shares of the basic materials company's stock worth $997,000 after acquiring an additional 1,250 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Andersons by 6.6% during the third quarter. Inspire Investing LLC now owns 45,680 shares of the basic materials company's stock worth $3,001,000 after purchasing an additional 2,845 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ANDE shares. Deutsche Bank Aktiengesellschaft set a $110.00 target price on shares of Andersons in a research report on Tuesday, August 4th. BMO Capital Markets lifted their price objective on Andersons from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Weiss Ratings raised Andersons from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded Andersons from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $95.00.

Key Stories Impacting Andersons

Here are the key news stories impacting Andersons this week:

• Positive Sentiment: The company agreed to acquire Harvestone Low Carbon Partners for $915 million. The deal adds about 215 million gallons of annual ethanol capacity, expanding The Andersons’ renewables platform by more than 40%. Management expects the acquisition to be immediately accretive to earnings per share and cash flow. The Andersons acquisition announcement
• Positive Sentiment: Third-quarter adjusted EPS of $1.38 topped the $1.11 analyst consensus, while revenue rose 5.8% year over year. Net income attributable to the company reached a third-quarter record of $46 million; Renewables also posted record pretax income of $63 million. The Andersons third-quarter results
• Neutral Sentiment: The acquisition’s strategic benefit comes with a substantial price tag. The company said approximately half of the $915 million purchase price reflects expected 45Z and 45Q tax-credit cash flows, making the deal’s value partly dependent on those incentives. Andersons to acquire Harvestone
• Negative Sentiment: Quarterly revenue of $2.83 billion came in below analysts’ $2.97 billion estimate, tempering the positive earnings surprise. Agribusiness pretax income was $5 million, or $9 million on an adjusted basis, well below Renewables’ contribution. Andersons Q3 adjusted earnings and revenue

Andersons Price Performance

NASDAQ:ANDE opened at $55.35 on Thursday. 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 company has a 50 day moving average price of $66.64 and a 200-day moving average price of $69.06. The Andersons, Inc. has a 1-year low of $46.62 and a 1-year high of $82.11. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 9.30 and a beta of 0.63.

Andersons (NASDAQ:ANDE - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.27. Andersons had a net margin of 1.84% and a return on equity of 17.35%. The company had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.97 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis.

Andersons Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st were given a dividend of $0.20 per share. The ex-dividend date was Thursday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. Andersons's dividend payout ratio (DPR) is 15.44%.

About Andersons

The Andersons, Inc NASDAQ: ANDE is an agribusiness company that provides products and services supporting the agricultural supply chain. Founded in 1947 and headquartered in Maumee, Ohio, the company serves farmers, agricultural retailers, manufacturers, and other customers primarily in North America.

The company's Trade segment merchandises and manages the movement and storage of grains and other agricultural commodities. Its operations include grain elevators, commodity trading, logistics, and related services that connect producers with domestic and international markets.

Through its Ethanol segment, The Andersons produces renewable fuels and markets co-products such as distillers grains and corn oil.

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