The Andersons, Inc. (NASDAQ:ANDE – Get Rating) – Equities research analysts at Seaport Res Ptn reduced their Q2 2023 earnings estimates for shares of Andersons in a research note issued to investors on Thursday, May 5th. Seaport Res Ptn analyst E. Larson now forecasts that the basic materials company will earn $1.02 per share for the quarter, down from their previous forecast of $1.17. Seaport Res Ptn also issued estimates for Andersons’ Q4 2023 earnings at $0.94 EPS and FY2023 earnings at $2.69 EPS.
Several other equities analysts also recently weighed in on ANDE. Lake Street Capital lifted their target price on Andersons from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, March 25th. BMO Capital Markets lowered their price objective on Andersons from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday. StockNews.com cut Andersons from a “buy” rating to a “hold” rating in a research note on Monday, April 11th. Finally, Zacks Investment Research cut Andersons from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $49.69.
Andersons (NASDAQ:ANDE – Get Rating) last announced its quarterly earnings data on Tuesday, February 15th. The basic materials company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.56. Andersons had a return on equity of 7.50% and a net margin of 0.67%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the firm posted $0.59 EPS.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Investors of record on Friday, April 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.78%. Andersons’s dividend payout ratio (DPR) is presently 25.90%.
In related news, CEO Patrick E. Bowe sold 24,375 shares of Andersons stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $43.50, for a total value of $1,060,312.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William E. Krueger sold 30,000 shares of Andersons stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $53.39, for a total value of $1,601,700.00. Following the completion of the transaction, the insider now owns 16,449 shares of the company’s stock, valued at $878,212.11. The disclosure for this sale can be found here. Insiders have sold 135,989 shares of company stock worth $6,228,950 over the last quarter. 6.10% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in Andersons by 179.8% during the first quarter. Victory Capital Management Inc. now owns 556,866 shares of the basic materials company’s stock worth $27,980,000 after purchasing an additional 357,848 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Andersons by 6.8% in the fourth quarter. BlackRock Inc. now owns 5,529,734 shares of the basic materials company’s stock valued at $214,057,000 after buying an additional 353,839 shares in the last quarter. JPMorgan Chase & Co. grew its position in Andersons by 165.4% during the 4th quarter. JPMorgan Chase & Co. now owns 407,795 shares of the basic materials company’s stock worth $15,786,000 after purchasing an additional 254,148 shares in the last quarter. Parallax Volatility Advisers L.P. grew its position in Andersons by 263.2% during the 4th quarter. Parallax Volatility Advisers L.P. now owns 199,385 shares of the basic materials company’s stock worth $7,718,000 after purchasing an additional 144,486 shares in the last quarter. Finally, Millennium Management LLC grew its position in Andersons by 516.1% during the 4th quarter. Millennium Management LLC now owns 111,804 shares of the basic materials company’s stock worth $4,328,000 after purchasing an additional 93,656 shares in the last quarter. 76.85% of the stock is currently owned by institutional investors.
Andersons Company Profile (Get Rating)
The Andersons, Inc, an agriculture company, operates in trade, renewables, and plant nutrient sectors in the United States and internationally. The company's Trade segment operates grain elevators; stores commodities; and provides grain marketing, risk management, and origination services to its customers and affiliated ethanol facilities.
- Get a free copy of the StockNews.com research report on Andersons (ANDE)
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