Bank of New York Mellon Corp Cuts Stock Position in The Andersons, Inc. (NASDAQ:ANDE)

Bank of New York Mellon Corp lowered its position in The Andersons, Inc. (NASDAQ:ANDE) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 344,945 shares of the basic materials company’s stock after selling 8,326 shares during the period. Bank of New York Mellon Corp owned approximately 1.01% of Andersons worth $14,809,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANDE. Tudor Investment Corp ET AL purchased a new stake in Andersons during the 4th quarter worth approximately $591,000. Allspring Global Investments Holdings LLC grew its position in Andersons by 148.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,992 shares of the basic materials company’s stock worth $737,000 after purchasing an additional 10,147 shares during the last quarter. Yousif Capital Management LLC grew its position in Andersons by 2.0% during the 1st quarter. Yousif Capital Management LLC now owns 13,732 shares of the basic materials company’s stock worth $590,000 after purchasing an additional 275 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Andersons during the 4th quarter worth approximately $728,000. Finally, Two Sigma Investments LP purchased a new stake in Andersons during the 4th quarter worth approximately $690,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Andersons Trading Down 0.8%

Shares of ANDE opened at $36.16 on Friday. The company has a current ratio of 1.76, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The Andersons, Inc. has a 12-month low of $31.03 and a 12-month high of $55.52. The firm has a 50-day moving average price of $36.26 and a 200 day moving average price of $39.30. The firm has a market capitalization of $1.24 billion, a P/E ratio of 11.41 and a beta of 0.75.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.20. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Andersons had a net margin of 0.97% and a return on equity of 7.35%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. Sell-side analysts forecast that The Andersons, Inc. will post 3.11 EPS for the current year.

Andersons Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be issued a $0.195 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.78 annualized dividend and a yield of 2.16%. Andersons’s dividend payout ratio (DPR) is 24.61%.

Analysts Set New Price Targets

Several analysts have commented on ANDE shares. BMO Capital Markets began coverage on shares of Andersons in a research note on Tuesday, May 6th. They set a “market perform” rating and a $45.00 price objective for the company. Lake Street Capital decreased their target price on shares of 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 cut shares of Andersons from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th.

About Andersons

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.