The Andersons, Inc. $ANDE Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its stake in The Andersons, Inc. by 36.7%, now holding approximately 22,545 shares valued at $968,000.
• Recent analyst ratings changed, with Wall Street Zen downgrading the stock from a "buy" to a "hold," but it still maintains a moderate buy rating with an average target price of $51.67.
• The Andersons reported earnings of $0.24 per share for the latest quarter, missing estimates, despite a revenue increase of 12.2% year-over-year, rising to $3.14 billion.

Comerica Bank cut its holdings in The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 36.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,545 shares of the basic materials company's stock after selling 13,064 shares during the quarter. Comerica Bank owned approximately 0.07% of Andersons worth $968,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Andersons by 426.2% in the first quarter. GAMMA Investing LLC now owns 1,805 shares of the basic materials company's stock valued at $77,000 after purchasing an additional 1,462 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Andersons in the fourth quarter valued at approximately $189,000. Mutual of America Capital Management LLC acquired a new stake in shares of Andersons in the first quarter valued at approximately $201,000. 1492 Capital Management LLC acquired a new stake in shares of Andersons in the first quarter valued at approximately $208,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Andersons in the fourth quarter valued at approximately $212,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Andersons from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Andersons currently has an average rating of "Moderate Buy" and an average target price of $51.67.

Andersons Price Performance

ANDE opened at $41.40 on Friday. The company has a fifty day simple moving average of $38.12 and a 200 day simple moving average of $38.47. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 17.62 and a beta of 0.67. The Andersons, Inc. has a twelve month low of $31.03 and a twelve month high of $51.58. The company has a current ratio of 2.01, a quick ratio of 1.30 and a debt-to-equity ratio of 0.36.

Andersons (NASDAQ:ANDE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The basic materials company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.29). The company had revenue of $3.14 billion for 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%.Andersons's revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 earnings per share. Equities research analysts expect that The Andersons, Inc. will post 3.11 EPS for the current fiscal year.

Andersons Dividend Announcement

The business also recently disclosed 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 annualized dividend 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%.

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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