Andersons (NASDAQ:ANDE) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Andersons (NASDAQ:ANDE) from a buy rating to a hold rating in a report published on Friday morning.

Andersons Stock Up 2.9 %

Shares of NASDAQ:ANDE opened at $50.22 on Friday. The business’s 50-day moving average is $49.72 and its 200-day moving average is $52.74. Andersons has a 1 year low of $45.07 and a 1 year high of $61.46. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 14.19 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.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $3.20 billion. Andersons had a net margin of 0.89% and a return on equity of 7.93%. Andersons’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share.

Andersons Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Tuesday, October 1st. Andersons’s payout ratio is 21.47%.

Hedge Funds Weigh In On Andersons

Several institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its stake in shares of Andersons by 8.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock valued at $185,390,000 after buying an additional 303,711 shares during the period. American Century Companies Inc. boosted its holdings in Andersons by 16.8% in the second quarter. American Century Companies Inc. now owns 933,968 shares of the basic materials company’s stock worth $46,325,000 after acquiring an additional 134,126 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 period. Squarepoint Ops LLC bought a new stake in shares of Andersons during the second quarter valued at approximately $2,311,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Andersons by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,818,680 shares of the basic materials company’s stock worth $162,189,000 after purchasing an additional 46,203 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

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.