Summit Global Investments Takes $491,000 Position in The Andersons, Inc. $ANDE

Summit Global Investments acquired a new position in shares of The Andersons, Inc. (NASDAQ:ANDE) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,340 shares of the basic materials company’s stock, valued at approximately $491,000.

Several other institutional investors have also recently added to or reduced their stakes in ANDE. Wealth Enhancement Advisory Services LLC bought a new position in shares of Andersons in the 3rd quarter worth about $30,000. Tower Research Capital LLC TRC raised its stake in Andersons by 227.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 2,053 shares during the period. Trust Co. of Toledo NA OH bought a new position in Andersons in the second quarter worth about $114,000. Canada Pension Plan Investment Board boosted its stake in Andersons by 57.1% in the second quarter. Canada Pension Plan Investment Board now owns 4,400 shares of the basic materials company’s stock valued at $162,000 after acquiring an additional 1,600 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Andersons during the second quarter valued at approximately $201,000. Institutional investors own 87.06% of the company’s stock.

Andersons Stock Performance

Shares of ANDE stock opened at $61.99 on Friday. The Andersons, Inc. has a 12-month low of $31.03 and a 12-month high of $62.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.47 and a quick ratio of 0.80. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 28.97 and a beta of 0.78. The business has a 50 day simple moving average of $54.77 and a 200 day simple moving average of $46.33.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings data on Tuesday, November 4th. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.38. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Andersons had a net margin of 0.63% and a return on equity of 5.83%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. On average, equities research analysts anticipate that The Andersons, Inc. will post 3.11 EPS for the current year.

Andersons Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Andersons’s previous quarterly dividend of $0.20. Andersons’s dividend payout ratio (DPR) is currently 37.38%.

Insider Activity at Andersons

In related news, VP Anne G. Rex sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $51.36, for a total transaction of $154,080.00. Following the transaction, the vice president owned 23,549 shares in the company, valued at $1,209,476.64. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Stout, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $51.77, for a total value of $647,125.00. Following the completion of the sale, the director owned 33,441 shares of the company’s stock, valued at $1,731,240.57. This trade represents a 27.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,500 shares of company stock valued at $1,076,205 over the last quarter. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ANDE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Andersons in a report on Wednesday, January 21st. BMO Capital Markets raised Andersons from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $50.00 to $65.00 in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.33.

About Andersons

The Andersons, Inc operates as a diversified agriculture company offering a broad range of products and services to farmers, retailers and industrial customers. Through its Grain Group, the company purchases, stores, merchandises and transports corn, soybeans and other commodities, while its Renewables Group produces ethanol and distillers grains at multiple plants in the U.S. The Rail Group provides locomotive leasing, railcar repair and related maintenance services, and the Horticulture Group supplies turf, specialty and horticultural products to landscaping professionals and consumer lawn and garden retailers.

Founded in 1947 and headquartered in Maumee, Ohio, The Andersons has grown from a regional grain elevator operator into an integrated agribusiness platform.