The Andersons, Inc. $ANDE Shares Sold by Edgestream Partners L.P.

Key Points

• Edgestream Partners cut its Andersons stake by 68.8% in the first quarter, selling 84,181 shares and retaining 38,191 shares valued at about $2.74 million. Institutional investors collectively own 87.06% of the company.
• Andersons reported quarterly EPS of $1.12, beating analyst estimates of $0.70, while revenue of $2.63 billion fell slightly short of expectations and declined 1.2% year over year. The company also paid a quarterly dividend of $0.20, equal to a 1.1% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying an average “Buy” rating and an average price target of $85, compared with a recent price of $70.78.

Edgestream Partners L.P. decreased its position in The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 68.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 38,191 shares of the basic materials company's stock after selling 84,181 shares during the period. Edgestream Partners L.P. owned about 0.11% of Andersons worth $2,741,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Andersons by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,349,243 shares of the basic materials company's stock worth $124,910,000 after buying an additional 17,278 shares in the last quarter. Rubric Capital Management LP acquired a new stake in Andersons in the 4th quarter valued at about $53,469,000. Janus Henderson Group PLC increased its holdings in Andersons by 35.1% during the 1st quarter. Janus Henderson Group PLC now owns 860,942 shares of the basic materials company's stock valued at $61,768,000 after acquiring an additional 223,600 shares in the last quarter. Geode Capital Management LLC increased its holdings in Andersons by 0.4% during 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 acquiring an additional 3,259 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Andersons by 354.7% during the fourth quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company's stock worth $38,868,000 after acquiring an additional 570,245 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company's stock.

Andersons Price Performance

NASDAQ:ANDE opened at $70.78 on Friday. The Andersons, Inc. has a 12-month low of $31.84 and a 12-month high of $82.11. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 18.82 and a beta of 0.65. The company's 50-day moving average is $72.17 and its two-hundred day moving average is $69.73. The company has a current ratio of 1.37, a quick ratio of 0.62 and a debt-to-equity ratio of 0.43.

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

Andersons Dividend Announcement

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

Insider Buying and Selling at Andersons

In other news, Director Patrick E. Bowe sold 16,466 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $80.76, for a total transaction of $1,329,794.16. Following the sale, the director owned 78,409 shares in the company, valued at $6,332,310.84. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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