Rubric Capital Management LP Trims Position in The Andersons, Inc. $ANDE

Key Points

• Rubric Capital Management cut its Andersons position by 14.9% in the first quarter, selling 149,812 shares. It still held 855,819 shares worth approximately $61.4 million, representing about 2.51% of the company.
• Andersons reported quarterly EPS of $1.12, well above the $0.70 consensus estimate, while revenue of $2.63 billion fell short of expectations and declined 1.2% year over year.
• The stock opened at $74.60, down 4%, while analysts maintained a generally positive view with an average “Buy” rating and an $85 consensus price target. The company also paid a quarterly dividend of $0.20 per share, yielding about 1.1%.

Rubric Capital Management LP decreased its holdings in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 855,819 shares of the basic materials company's stock after selling 149,812 shares during the period. Rubric Capital Management LP owned approximately 2.51% of Andersons worth $61,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Andersons by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,349,243 shares of the basic materials company's stock valued at $124,910,000 after acquiring an additional 17,278 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Andersons by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 822,812 shares of the basic materials company's stock valued at $43,757,000 after purchasing an additional 3,259 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Andersons by 354.7% in the 4th quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company's stock valued at $38,868,000 after purchasing an additional 570,245 shares during the last quarter. Ophir Asset Management Pty Ltd acquired a new position in shares of Andersons in the fourth quarter valued at approximately $38,746,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Andersons by 82.1% in the fourth quarter. Janus Henderson Group PLC now owns 637,342 shares of the basic materials company's stock valued at $33,875,000 after purchasing an additional 287,304 shares during the period. Hedge funds and other institutional investors own 87.06% of the company's stock.

Andersons Stock Down 4.0%

ANDE opened at $74.60 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.37 and a quick ratio of 0.62. The business has a 50 day simple moving average of $72.09 and a 200-day simple moving average of $69.34. The stock has a market capitalization of $2.54 billion, a P/E ratio of 19.84 and a beta of 0.65. The Andersons, Inc. has a 12 month low of $31.84 and a 12 month high of $82.11.

Andersons (NASDAQ:ANDE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.42. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.71 billion. Andersons had a return on equity of 10.68% and a net margin of 1.17%.The company's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share.

Andersons Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, July 1st. Andersons's payout ratio is presently 21.28%.

Insider Buying and Selling at Andersons

In other news, Director Patrick E. Bowe sold 19,100 shares of the company's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $78.31, for a total transaction of $1,495,721.00. Following the transaction, the director directly owned 94,875 shares of the company's stock, valued at $7,429,661.25. This represents a 16.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 36,466 shares of company stock worth $2,895,769. Corporate insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group set a $90.00 price target on Andersons in a report on Wednesday, May 20th. Benchmark reissued a "buy" rating on shares of Andersons in a research note on Monday, June 15th. Texas Capital upgraded shares of Andersons to a "strong-buy" rating in a research report on Thursday, June 18th. Wall Street Zen upgraded shares of Andersons from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group downgraded shares of Andersons to a "buy" rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $85.00.

Andersons Company 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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