The Andersons, Inc. $ANDE Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Andersons stake by 56% in the first quarter to 96,403 shares worth approximately $6.92 million. Institutional investors and hedge funds collectively own 87.06% of the company.
• Andersons reported quarterly EPS of $2.15, exceeding analysts’ $1.48 estimate, while revenue declined 1.2% year over year to $3.10 billion. The company also declared a quarterly dividend of $0.20, equivalent to a 1.2% annual yield.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and an average price target of $95, compared with a reported opening price of $65.92.

Bank of America Corp DE boosted its stake in The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 56.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,403 shares of the basic materials company's stock after acquiring an additional 34,619 shares during the quarter. Bank of America Corp DE owned about 0.28% of Andersons worth $6,920,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Rubric Capital Management LP bought a new stake in Andersons in the fourth quarter valued at about $53,469,000. Ophir Asset Management Pty Ltd acquired a new stake in Andersons during the fourth quarter valued at approximately $38,746,000. Victory Capital Management Inc. lifted its holdings in Andersons by 354.7% during the 4th quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company's stock worth $38,868,000 after buying an additional 570,245 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Andersons by 82.1% during the 4th quarter. Janus Henderson Group PLC now owns 637,342 shares of the basic materials company's stock worth $33,875,000 after buying an additional 287,304 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Andersons by 162.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 438,219 shares of the basic materials company's stock worth $17,445,000 after acquiring an additional 271,451 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company's stock.

Insider Buying and Selling

In other Andersons news, Director Patrick E. Bowe sold 3,534 shares of the firm's stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $80.53, for a total value of $284,593.02. Following the sale, the director owned 74,875 shares in the company, valued at approximately $6,029,683.75. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.30% of the company's stock.

Andersons Price Performance

Shares of NASDAQ ANDE opened at $65.92 on Wednesday. The Andersons, Inc. has a 1-year low of $37.69 and a 1-year high of $82.11. 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 business's fifty day moving average price is $70.65 and its two-hundred day moving average price is $70.66. The firm has a market capitalization of $2.24 billion, a PE ratio of 12.73 and a beta of 0.66.

Andersons (NASDAQ:ANDE - Get Free Report) last posted its earnings results on Monday, August 3rd. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.67. Andersons had a return on equity of 16.23% and a net margin of 1.62%.The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.28 billion. During the same period last year, the business posted $0.24 earnings per share. The firm's quarterly revenue was down 1.2% compared to the same quarter last year.

Andersons Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be given a $0.20 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.80 annualized dividend and a yield of 1.2%. Andersons's dividend payout ratio is 15.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ANDE shares. Weiss Ratings raised Andersons from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. Wall Street Zen raised shares of Andersons from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. The Goldman Sachs Group lowered shares of Andersons to a "buy" rating in a research note on Thursday, June 18th. Benchmark reissued a "buy" rating on shares of Andersons in a report on Monday, June 15th. Finally, Texas Capital upgraded shares of Andersons to a "strong-buy" rating in a research report on Thursday, June 18th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $95.00.

Andersons 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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