The Andersons, Inc. $ANDE Holdings Raised by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC increased its holdings in The Andersons, Inc. by 20.7% during the second quarter, now owning about 0.21% of the company valued at approximately $2.67 million.
• The Andersons reported $0.24 earnings per share for the quarter, missing estimates by ($0.29), but their revenue increased by 12.2% year-over-year.
• The company declared a quarterly dividend of $0.195, representing a 2.0% yield, with the ex-dividend date set for October 1st.

Wedge Capital Management L L P NC boosted its position in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 20.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,516 shares of the basic materials company's stock after buying an additional 12,439 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.21% of Andersons worth $2,665,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Andersons by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 4,113,185 shares of the basic materials company's stock valued at $176,579,000 after purchasing an additional 115,948 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Andersons by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 800,220 shares of the basic materials company's stock worth $34,353,000 after purchasing an additional 48,596 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Andersons by 12.5% during the 1st quarter. Invesco Ltd. now owns 615,797 shares of the basic materials company's stock worth $26,436,000 after purchasing an additional 68,498 shares during the period. Bridgeway Capital Management LLC boosted its position in Andersons by 1.1% in the first quarter. Bridgeway Capital Management LLC now owns 339,311 shares of the basic materials company's stock valued at $14,567,000 after buying an additional 3,572 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Andersons by 0.7% during the 1st quarter. Empowered Funds LLC now owns 233,771 shares of the basic materials company's stock valued at $9,990,000 after purchasing an additional 1,558 shares during the period. 87.06% of the stock is owned by institutional investors and hedge funds.

Andersons Stock Down 0.6%

ANDE traded down $0.25 during trading on Monday, reaching $38.38. 348,003 shares of the stock were exchanged, compared to its average volume of 472,905. The stock's 50 day moving average price is $38.50 and its two-hundred day moving average price is $38.10. The stock has a market cap of $1.31 billion, a P/E ratio of 16.33 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 debt-to-equity ratio of 0.36, a quick ratio of 1.30 and a current ratio of 2.01.

Andersons (NASDAQ:ANDE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The basic materials company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.29). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.86 billion. Andersons had a net margin of 0.70% and a return on equity of 5.28%. The company's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. Equities analysts expect that The Andersons, Inc. will post 3.11 EPS for the current year.

Andersons Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders 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 dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, October 1st. Andersons's dividend payout ratio is presently 33.19%.

About Andersons

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.