Public Employees Retirement System of Ohio Cuts Stake in The Andersons, Inc. $ANDE

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in The Andersons, Inc. by 36.7%, now holding 13,202 shares valued at approximately $485,000 after selling 7,660 shares.
• The Andersons reported earnings of $0.24 EPS for the quarter, missing estimates of $0.53 EPS, while revenue increased to $3.14 billion, exceeding expected $2.86 billion.
• The company announced a quarterly dividend of $0.195 per share, with a current yield of 1.9% and a dividend payout ratio of 33.19%.

Public Employees Retirement System of Ohio cut its stake in The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 36.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,202 shares of the basic materials company's stock after selling 7,660 shares during the period. Public Employees Retirement System of Ohio's holdings in Andersons were worth $485,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake 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 purchasing an additional 1,462 shares during the period. Mutual of America Capital Management LLC acquired a new stake in shares of Andersons during the 1st quarter worth $201,000. 1492 Capital Management LLC purchased a new position in shares of Andersons in the 1st quarter worth $208,000. Inspire Advisors LLC acquired a new position in Andersons in the first quarter valued at $230,000. Finally, Stephens Inc. AR purchased a new stake in Andersons during the first quarter valued at about $275,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Andersons Price Performance

Shares of ANDE stock opened at $41.29 on Monday. The firm has a fifty day moving average of $39.13 and a two-hundred day moving average of $37.92. The firm has a market cap of $1.41 billion, a P/E ratio of 17.57 and a beta of 0.70. The Andersons, Inc. has a 1-year low of $31.03 and a 1-year high of $51.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.01 and a quick ratio of 1.30.

Andersons (NASDAQ:ANDE - Get Free Report) last issued its 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). Andersons had a net margin of 0.70% and a return on equity of 5.28%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the company posted $1.05 EPS. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that The Andersons, Inc. will post 3.11 earnings per share for the current fiscal year.

Andersons Announces Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Andersons in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.67.

Andersons Company 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.

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