Comerica Bank Sells 13,064 Shares of The Andersons, Inc. $ANDE

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 shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 36.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,545 shares of the basic materials company's stock after selling 13,064 shares during the period. Comerica Bank owned 0.07% of Andersons worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ANDE. GAMMA Investing LLC lifted its position in Andersons by 426.2% during the 1st 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 period. Point72 Hong Kong Ltd acquired a new position in Andersons during the 4th quarter valued at about $189,000. Mutual of America Capital Management LLC acquired a new position in Andersons during the 1st quarter valued at about $201,000. 1492 Capital Management LLC acquired a new stake in shares of Andersons in the 1st quarter valued at approximately $208,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Andersons in the 4th quarter valued at approximately $212,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Andersons Stock Up 2.3%

NASDAQ ANDE traded up $0.93 during trading hours on Thursday, reaching $40.90. 290,996 shares of the company's stock were exchanged, compared to its average volume of 226,475. The company's 50-day moving average is $38.33 and its two-hundred day moving average is $38.31. The Andersons, Inc. has a one year low of $31.03 and a one year high of $51.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.30 and a current ratio of 2.01. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 17.40 and a beta of 0.67.

Andersons (NASDAQ:ANDE - Get Free Report) last posted 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 return on equity of 5.28% and a net margin of 0.70%.The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the company posted $1.05 earnings per share. Andersons's revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts forecast that The Andersons, Inc. will post 3.11 EPS for the current fiscal year.

Andersons Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid 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 is presently 33.19%.

Andersons 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.