Renaissance Technologies LLC Decreases Position in The Andersons, Inc. $ANDE

Renaissance Technologies LLC lowered its stake in shares of The Andersons, Inc. (NASDAQ:ANDE) by 6.0% during the first quarter, Holdings Channel reports. The firm owned 125,800 shares of the basic materials company’s stock after selling 8,100 shares during the period. Renaissance Technologies LLC’s holdings in Andersons were worth $9,030,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Optimize Financial Inc boosted its holdings in shares of Andersons by 1.4% in the 4th quarter. Optimize Financial Inc now owns 14,657 shares of the basic materials company’s stock valued at $779,000 after buying an additional 208 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Andersons by 34.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 962 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 246 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Andersons by 95.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 820 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 400 shares in the last quarter. Uniplan Investment Counsel Inc. purchased a new stake in Andersons in the fourth quarter valued at $25,000. Finally, Amundi lifted its position in Andersons by 2.0% in the fourth quarter. Amundi now owns 24,085 shares of the basic materials company’s stock valued at $1,281,000 after acquiring an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Andersons Stock Performance

NASDAQ:ANDE opened at $70.78 on Monday. The firm’s fifty day moving average price is $72.17 and its 200 day moving average price is $69.83. The Andersons, Inc. has a 1-year low of $31.84 and a 1-year high of $82.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.37 and a quick ratio of 0.62. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 18.82 and a beta of 0.66.

Andersons (NASDAQ:ANDE) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.42. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.71 billion. Andersons had a net margin of 1.17% and a return on equity of 10.68%. Andersons’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS.

Andersons Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, July 1st. Andersons’s payout ratio is 21.28%.

Wall Street Analyst Weigh In

ANDE has been the topic of several research reports. Benchmark reaffirmed a “buy” rating on shares of Andersons in a report on Monday, June 15th. The Goldman Sachs Group downgraded Andersons to a “buy” rating in a report on Thursday, June 18th. Texas Capital raised Andersons to a “strong-buy” rating in a research report on Thursday, June 18th. Weiss Ratings raised Andersons from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Finally, UBS Group set a $90.00 price objective on Andersons in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Andersons currently has a consensus rating of “Buy” and a consensus price target of $85.00.

Insider Transactions at Andersons

In related news, Director Patrick E. Bowe sold 16,466 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $80.76, for a total value of $1,329,794.16. Following the completion of the sale, the director owned 78,409 shares in the company, valued at $6,332,310.84. This trade represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is owned by corporate insiders.

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.