Andersons (NASDAQ:ANDE) Shares Gap Down Following Weak Earnings

The Andersons, Inc. (NASDAQ:ANDE)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $56.14, but opened at $52.14. Andersons shares last traded at $52.68, with a volume of 60,738 shares trading hands.

The basic materials company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07). Andersons had a net margin of 0.69% and a return on equity of 8.19%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the business earned $0.20 EPS. The firm’s revenue for the quarter was down 30.0% on a year-over-year basis.

Andersons Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 28th. Andersons’s payout ratio is currently 25.85%.

Wall Street Analysts Forecast Growth

ANDE has been the topic of several research reports. Roth Capital reissued a “buy” rating and issued a $65.00 target price on shares of Andersons in a report on Tuesday, February 6th. StockNews.com upgraded shares of Andersons from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $62.50.

Insider Transactions at Andersons

In related news, CEO Patrick E. Bowe sold 3,387 shares of Andersons stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $60.01, for a total transaction of $203,253.87. Following the completion of the sale, the chief executive officer now owns 85,159 shares in the company, valued at approximately $5,110,391.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Andersons news, CEO Patrick E. Bowe sold 3,387 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $60.01, for a total value of $203,253.87. Following the completion of the transaction, the chief executive officer now directly owns 85,159 shares in the company, valued at approximately $5,110,391.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick E. Bowe sold 34,597 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $55.46, for a total value of $1,918,749.62. Following the transaction, the chief executive officer now directly owns 83,515 shares in the company, valued at approximately $4,631,741.90. The disclosure for this sale can be found here. Insiders sold a total of 45,245 shares of company stock valued at $2,534,099 over the last three months. 5.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC grew its holdings in Andersons by 8,577.4% in the fourth quarter. CWM LLC now owns 19,611 shares of the basic materials company’s stock valued at $1,128,000 after purchasing an additional 19,385 shares during the period. Vanguard Group Inc. raised its position in shares of Andersons by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,971,447 shares of the basic materials company’s stock worth $204,569,000 after buying an additional 47,494 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Andersons by 111.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 88,336 shares of the basic materials company’s stock valued at $5,083,000 after acquiring an additional 46,587 shares during the last quarter. Nordea Investment Management AB grew its position in Andersons by 1.9% during the third quarter. Nordea Investment Management AB now owns 38,389 shares of the basic materials company’s stock valued at $1,981,000 after acquiring an additional 714 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Andersons by 199.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 61,649 shares of the basic materials company’s stock worth $3,176,000 after purchasing an additional 41,037 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

Andersons Stock Down 8.4 %

The firm has a 50 day moving average price of $56.07 and a two-hundred day moving average price of $53.91. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 17.50 and a beta of 0.69. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

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.