Andersons (NASDAQ:ANDE) Issues Quarterly Earnings Results, Beats Expectations By $0.48 EPS

Andersons (NASDAQ:ANDE) announced its earnings results on Tuesday. The basic materials company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.48, Zacks reports. Andersons had a return on equity of 5.83% and a net margin of 0.63%.The business had revenue of $2.54 billion during the quarter. During the same period in the prior year, the business earned $1.31 earnings per share. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis.

Andersons Trading Down 1.7%

NASDAQ:ANDE opened at $65.84 on Wednesday. The stock has a market capitalization of $2.23 billion, a PE ratio of 31.81 and a beta of 0.77. The firm’s 50 day moving average is $58.60 and its 200 day moving average is $48.99. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Andersons has a 12 month low of $31.03 and a 12 month high of $70.06.

Andersons Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, April 1st. This represents a $0.80 annualized dividend and a yield of 1.2%. Andersons’s dividend payout ratio is presently 37.38%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Andersons in a research report on Wednesday, January 21st. Benchmark upgraded Andersons to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, BMO Capital Markets raised Andersons from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $65.00 in a research note on Wednesday, December 10th. One 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 stock. According to data from MarketBeat.com, Andersons has a consensus rating of “Buy” and an average target price of $62.50.

Insider Buying and Selling

In related news, Director John T. Stout, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the director directly owned 25,941 shares of the company’s stock, valued at approximately $1,426,755. This trade represents a 16.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Andersons

A number of large investors have recently modified their holdings of the company. Rubric Capital Management LP purchased a new stake in Andersons in the 4th quarter worth approximately $53,469,000. Victory Capital Management Inc. grew its position in Andersons by 354.7% during the fourth quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company’s stock worth $38,868,000 after buying an additional 570,245 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Andersons by 162.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 438,219 shares of the basic materials company’s stock worth $17,445,000 after purchasing an additional 271,451 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Andersons by 262.8% during the second quarter. Qube Research & Technologies Ltd now owns 273,377 shares of the basic materials company’s stock worth $10,047,000 after acquiring an additional 198,029 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Andersons by 105.9% during the 3rd quarter. Two Sigma Investments LP now owns 277,257 shares of the basic materials company’s stock worth $11,038,000 after acquiring an additional 142,578 shares during the last quarter. 87.06% of the stock is currently owned by institutional investors.

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.