ProShare Advisors LLC reduced its position in shares of The Andersons, Inc. (NASDAQ:ANDE – Free Report) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,352 shares of the basic materials company’s stock after selling 48,994 shares during the period. ProShare Advisors LLC owned 0.61% of Andersons worth $8,526,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of ANDE. Millennium Management LLC boosted its holdings in Andersons by 822.0% during the second quarter. Millennium Management LLC now owns 502,720 shares of the basic materials company’s stock valued at $16,585,000 after acquiring an additional 448,195 shares during the period. Invesco Ltd. boosted its holdings in Andersons by 35.6% during the first quarter. Invesco Ltd. now owns 973,451 shares of the basic materials company’s stock valued at $48,926,000 after acquiring an additional 255,347 shares during the period. Loomis Sayles & Co. L P bought a new stake in Andersons during the first quarter valued at about $7,076,000. BlackRock Inc. boosted its holdings in Andersons by 2.2% during the first quarter. BlackRock Inc. now owns 5,650,640 shares of the basic materials company’s stock valued at $283,999,000 after acquiring an additional 120,906 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Andersons by 914.7% in the fourth quarter. First Trust Advisors LP now owns 129,836 shares of the basic materials company’s stock worth $4,543,000 after acquiring an additional 117,041 shares during the last quarter. Institutional investors own 85.16% of the company’s stock.
Insider Buying and Selling at Andersons
In other news, CEO Patrick E. Bowe sold 55,788 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $50.47, for a total value of $2,815,620.36. Following the sale, the chief executive officer now owns 164,667 shares of the company’s stock, valued at approximately $8,310,743.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick E. Bowe sold 55,788 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $50.47, for a total transaction of $2,815,620.36. Following the sale, the chief executive officer now directly owns 164,667 shares in the company, valued at approximately $8,310,743.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Anne G. Rex sold 1,523 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $52.00, for a total value of $79,196.00. Following the sale, the vice president now owns 19,534 shares in the company, valued at $1,015,768. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,153 shares of company stock valued at $7,033,450. 5.70% of the stock is currently owned by corporate insiders.
Andersons Stock Up 0.3 %
Andersons (NASDAQ:ANDE – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.46. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.13 billion. Andersons had a return on equity of 7.79% and a net margin of 0.51%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.39 earnings per share. On average, analysts anticipate that The Andersons, Inc. will post 2.9 EPS for the current year.
Andersons Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, September 29th. Andersons’s payout ratio is 29.72%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on ANDE shares. Roth Mkm raised their price objective on shares of Andersons from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. StockNews.com began coverage on Andersons in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Stephens lifted their target price on Andersons from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Finally, Lake Street Capital lifted their target price on Andersons from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd.
The Andersons, Inc operates in trade, renewables, and plant nutrient sectors in the United States and internationally. It operates through three segments: Trade, Renewables, and Plant Nutrient. 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, and corn oil.
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