Redmont Wealth Advisors LLC Has $589,000 Stake in The Andersons, Inc. (NASDAQ:ANDE)

Redmont Wealth Advisors LLC lowered its holdings in shares of The Andersons, Inc. (NASDAQ:ANDE) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,745 shares of the basic materials company’s stock after selling 902 shares during the period. Andersons comprises 0.9% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 27th largest holding. Redmont Wealth Advisors LLC’s holdings in Andersons were worth $589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANDE. Renaissance Technologies LLC lifted its position in shares of Andersons by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 159,576 shares of the basic materials company’s stock worth $7,915,000 after buying an additional 18,500 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Andersons in the 2nd quarter worth about $1,040,000. Panagora Asset Management Inc. grew its holdings in shares of Andersons by 5.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 207,913 shares of the basic materials company’s stock worth $10,312,000 after purchasing an additional 10,222 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Andersons during the 1st quarter worth about $443,000. Finally, UniSuper Management Pty Ltd bought a new position in Andersons during the 1st quarter valued at about $434,000. Institutional investors own 87.06% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Andersons from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th.

Andersons Trading Up 0.6 %

Shares of ANDE opened at $49.32 on Friday. The stock has a fifty day moving average price of $49.01 and a two-hundred day moving average price of $51.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.07. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 13.93 and a beta of 0.57. The Andersons, Inc. has a 52-week low of $44.65 and a 52-week high of $61.46.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). Andersons had a return on equity of 6.99% and a net margin of 0.83%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the company earned $1.52 EPS. The firm’s revenue was down 30.5% compared to the same quarter last year.

Andersons Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, October 1st. Andersons’s dividend payout ratio (DPR) is presently 21.47%.

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.