Mackenzie Financial Corp Increases Stake in The Andersons, Inc. (NASDAQ:ANDE)

Mackenzie Financial Corp raised its stake in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 228.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,480 shares of the basic materials company's stock after acquiring an additional 10,069 shares during the period. Mackenzie Financial Corp's holdings in Andersons were worth $587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV lifted its stake in Andersons by 70.3% during the 4th quarter. KBC Group NV now owns 1,558 shares of the basic materials company's stock valued at $63,000 after acquiring an additional 643 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Andersons by 16.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,866 shares of the basic materials company's stock worth $116,000 after purchasing an additional 412 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Andersons in the 4th quarter worth approximately $189,000. Sherbrooke Park Advisers LLC bought a new position in shares of Andersons in the 4th quarter worth approximately $212,000. Finally, Walleye Capital LLC bought a new position in shares of Andersons in the 4th quarter worth approximately $213,000. Institutional investors own 87.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ANDE. Wall Street Zen cut shares of Andersons from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Lake Street Capital lowered their price objective on shares of Andersons from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Stephens reiterated an "overweight" rating and issued a $55.00 price objective on shares of Andersons in a research note on Wednesday, February 19th. Finally, BMO Capital Markets began coverage on shares of Andersons in a research note on Tuesday, May 6th. They issued a "market perform" rating and a $45.00 price objective on the stock.

Andersons Stock Performance

Andersons stock traded up $0.47 during midday trading on Friday, hitting $34.67. The stock had a trading volume of 214,203 shares, compared to its average volume of 262,804. The firm's fifty day moving average is $36.58 and its two-hundred day moving average is $40.88. The company has a market capitalization of $1.19 billion, a PE ratio of 10.44 and a beta of 0.76. The Andersons, Inc. has a 52-week low of $31.03 and a 52-week high of $55.52. The company has a current ratio of 1.65, a quick ratio of 0.90 and a debt-to-equity ratio of 0.38.

Andersons (NASDAQ:ANDE - Get Free Report) last released its earnings results on Tuesday, May 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.20. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.85 billion. Andersons had a net margin of 1.01% and a return on equity of 7.59%. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. On average, research analysts forecast that The Andersons, Inc. will post 3.11 EPS for the current year.

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.