Wellington Management Group LLP Sells 26,254 Shares of The Andersons, Inc. $ANDE

Key Points

• Wellington Management Group LLP has reduced its stake in The Andersons, Inc. by 18.8%, selling 26,254 shares and now holding approximately 0.33% of the company valued at $4.87 million.
• The Andersons, Inc. reported a quarterly earnings per share (EPS) of $0.24, missing analysts' expectations, despite revenue of $3.14 billion exceeding estimates.
• The company announced a quarterly dividend of $0.195, payable on October 22nd, with an annualized dividend yield of 1.9% and a payout ratio of 33.19%.

Wellington Management Group LLP cut its stake in The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 18.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,372 shares of the basic materials company's stock after selling 26,254 shares during the period. Wellington Management Group LLP owned 0.33% of Andersons worth $4,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ANDE. GAMMA Investing LLC raised its position in Andersons by 426.2% in the 1st quarter. GAMMA Investing LLC now owns 1,805 shares of the basic materials company's stock worth $77,000 after purchasing an additional 1,462 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Andersons during the fourth quarter worth $189,000. Mutual of America Capital Management LLC acquired a new position in shares of Andersons during the first quarter valued at $201,000. 1492 Capital Management LLC bought a new position in Andersons in the first quarter valued at about $208,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Andersons in the fourth quarter worth about $212,000. 87.06% of the stock is owned by institutional investors.

Andersons Trading Up 2.2%

ANDE stock traded up $0.88 during midday trading on Thursday, hitting $41.49. 270,795 shares of the company's stock were exchanged, compared to its average volume of 253,525. 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 cap of $1.42 billion, a PE ratio of 17.66 and a beta of 0.67. The stock's fifty day moving average price is $38.02 and its 200-day moving average price is $38.47.

Andersons (NASDAQ:ANDE - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the company earned $1.05 earnings per share. The firm's revenue was up 12.2% compared to the same quarter last year. Research analysts predict that The Andersons, Inc. will post 3.11 earnings per share for the current fiscal year.

Andersons Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.78 dividend on an annualized basis and a yield of 1.9%. Andersons's payout ratio is presently 33.19%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Lake Street Capital reduced their target price 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. Wall Street Zen cut shares of Andersons from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.67.

Andersons Company 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.