The Andersons, Inc. (NASDAQ:ANDE) Stake Reduced by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC trimmed its stake in The Andersons, Inc. (NASDAQ:ANDE) by 2.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 15,240 shares of the basic materials company’s stock after selling 318 shares during the quarter. Andersons makes up about 1.2% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Redmont Wealth Advisors LLC’s holdings in Andersons were worth $874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Andersons by 65.8% in the 1st quarter. GAMMA Investing LLC now owns 524 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 208 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of Andersons during the fourth quarter valued at approximately $41,000. Meeder Asset Management Inc. acquired a new position in shares of Andersons during the fourth quarter worth approximately $110,000. Mackenzie Financial Corp bought a new position in Andersons in the 4th quarter worth approximately $215,000. Finally, Nomura Holdings Inc. bought a new position in Andersons in the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Insider Activity

In other Andersons news, Director Michael J. Anderson sold 3,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $59.00, for a total value of $177,000.00. Following the transaction, the director now directly owns 209,968 shares of the company’s stock, valued at approximately $12,388,112. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Andersons news, Director Michael J. Anderson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $59.00, for a total value of $177,000.00. Following the completion of the sale, the director now directly owns 209,968 shares of the company’s stock, valued at $12,388,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick E. Bowe sold 3,387 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $60.01, for a total transaction of $203,253.87. Following the transaction, the chief executive officer now owns 85,159 shares in the company, valued at approximately $5,110,391.59. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered Andersons from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Andersons has an average rating of “Moderate Buy” and a consensus target price of $62.50.

Andersons Price Performance

Shares of ANDE traded down $0.28 during mid-day trading on Wednesday, hitting $48.61. The company’s stock had a trading volume of 47,395 shares, compared to its average volume of 181,372. The firm has a 50-day moving average price of $51.76 and a 200 day moving average price of $53.79. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 13.73 and a beta of 0.61. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.04 and a quick ratio of 1.13. The Andersons, Inc. has a fifty-two week low of $44.85 and a fifty-two week high of $61.46.

Andersons (NASDAQ:ANDE) last posted its quarterly earnings results on Tuesday, May 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter. Andersons had a net margin of 0.89% and a return on equity of 7.93%. The business had revenue of $2.72 billion during the quarter. On average, research analysts predict that The Andersons, Inc. will post 2.65 EPS for the current fiscal year.

Andersons Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 1st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, July 1st. Andersons’s dividend payout ratio (DPR) is currently 21.47%.

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.