Wedge Capital Management L L P NC Has $2.58 Million Stock Holdings in The Andersons, Inc. (NASDAQ:ANDE)

Wedge Capital Management L L P NC trimmed its stake in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,077 shares of the basic materials company's stock after selling 7,638 shares during the quarter. Wedge Capital Management L L P NC owned about 0.18% of Andersons worth $2,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ANDE. Tudor Investment Corp ET AL acquired a new stake in Andersons in the fourth quarter worth $591,000. Proficio Capital Partners LLC bought a new stake in Andersons in the 4th quarter valued at about $728,000. Empowered Funds LLC boosted its stake in Andersons by 5.8% during the 4th quarter. Empowered Funds LLC now owns 232,213 shares of the basic materials company's stock valued at $9,364,000 after purchasing an additional 12,792 shares during the period. Bank of New York Mellon Corp grew its position in Andersons by 14.2% in the 4th quarter. Bank of New York Mellon Corp now owns 353,271 shares of the basic materials company's stock worth $14,315,000 after purchasing an additional 44,022 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Andersons by 347.7% in the third quarter. Barclays PLC now owns 54,358 shares of the basic materials company's stock valued at $2,725,000 after purchasing an additional 42,217 shares during the period. Institutional investors own 87.06% of the company's stock.

Andersons Price Performance

Shares of NASDAQ:ANDE traded down $0.09 on Thursday, reaching $35.33. 73,405 shares of the company traded hands, compared to its average volume of 264,113. The stock has a market capitalization of $1.21 billion, a PE ratio of 10.64 and a beta of 0.76. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 0.90. The company's 50 day moving average is $36.23 and its 200-day moving average is $40.62. The Andersons, Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $55.52.

Andersons (NASDAQ:ANDE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.20. Andersons had a return on equity of 7.59% and a net margin of 1.01%. The firm had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the business posted $0.16 EPS. Andersons's revenue was down 2.3% on a year-over-year basis. As a group, analysts anticipate that The Andersons, Inc. will post 3.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.