Hsbc Holdings PLC Has $1.29 Million Holdings in The Andersons, Inc. $ANDE

Hsbc Holdings PLC cut its position in The Andersons, Inc. (NASDAQ:ANDE) by 23.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,241 shares of the basic materials company’s stock after selling 7,488 shares during the period. Hsbc Holdings PLC’s holdings in Andersons were worth $1,289,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ANDE. Pacer Advisors Inc. acquired a new stake in Andersons in the fourth quarter valued at $9,027,000. Invesco Ltd. increased its stake in shares of Andersons by 18.2% during the 4th quarter. Invesco Ltd. now owns 602,808 shares of the basic materials company’s stock worth $32,051,000 after purchasing an additional 92,988 shares during the last quarter. Summit Global Investments increased its stake in shares of Andersons by 108.4% during the 4th quarter. Summit Global Investments now owns 25,712 shares of the basic materials company’s stock worth $1,367,000 after purchasing an additional 13,372 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new stake in shares of Andersons in the 4th quarter valued at about $25,000. Finally, Wellington Management Group LLP acquired a new stake in Andersons in the 4th quarter valued at about $6,729,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group set a $90.00 price target on Andersons in a report on Wednesday, May 20th. The Goldman Sachs Group cut Andersons to a “buy” rating in a research report on Thursday, June 18th. Benchmark reiterated a “buy” rating on shares of Andersons in a research note on Monday, June 15th. Texas Capital raised Andersons to a “strong-buy” rating in a report on Thursday, June 18th. Finally, Weiss Ratings upgraded Andersons from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. One research 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, the company currently has a consensus rating of “Buy” and an average target price of $85.00.

Insiders Place Their Bets

In related news, Director Patrick E. Bowe sold 16,466 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was 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 directly owned 78,409 shares in the company, valued at $6,332,310.84. The trade was a 17.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 66,466 shares of company stock worth $5,153,667. Company insiders own 4.30% of the company’s stock.

Andersons Stock Down 1.5%

Andersons stock opened at $67.37 on Thursday. The stock has a market cap of $2.29 billion, a P/E ratio of 17.92 and a beta of 0.65. The company has a quick ratio of 0.62, a current ratio of 1.37 and a debt-to-equity ratio of 0.43. The Andersons, Inc. has a twelve month low of $31.84 and a twelve month high of $82.11. The company’s 50-day moving average price is $72.09 and its two-hundred day moving average price is $66.80.

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

Andersons Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Andersons’s dividend payout ratio (DPR) is presently 21.28%.

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.