Andersons Inc (NASDAQ:ANDE) Sees Significant Decline in Short Interest

Andersons Inc (NASDAQ:ANDE) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,280,000 shares, a drop of 6.6% from the December 15th total of 1,370,000 shares. Based on an average daily volume of 239,400 shares, the short-interest ratio is currently 5.3 days. Approximately 4.2% of the company’s shares are short sold.

Several analysts recently weighed in on ANDE shares. Zacks Investment Research upgraded shares of Andersons from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a report on Monday, January 6th. BidaskClub upgraded shares of Andersons from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Buckingham Research cut their price target on shares of Andersons to $23.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, Stephens started coverage on shares of Andersons in a report on Monday, October 7th. They issued an “equal weight” rating and a $21.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $24.33.

In related news, insider Joseph E. Mcneely purchased 2,382 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $21.04 per share, for a total transaction of $50,117.28. Following the completion of the acquisition, the insider now directly owns 15,189 shares in the company, valued at approximately $319,576.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James J. Pirolli purchased 6,567 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $23.19 per share, for a total transaction of $152,288.73. Insiders bought 23,649 shares of company stock worth $543,299 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. boosted its holdings in shares of Andersons by 2.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 20,013 shares of the basic materials company’s stock valued at $545,000 after buying an additional 517 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of Andersons by 5.0% during the 3rd quarter. State of Tennessee Treasury Department now owns 11,693 shares of the basic materials company’s stock valued at $262,000 after buying an additional 553 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Andersons by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 49,061 shares of the basic materials company’s stock valued at $1,100,000 after buying an additional 586 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Andersons by 11.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,381 shares of the basic materials company’s stock valued at $233,000 after buying an additional 1,035 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Andersons by 3.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 35,200 shares of the basic materials company’s stock valued at $790,000 after buying an additional 1,090 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Shares of ANDE stock traded up $0.47 during mid-day trading on Thursday, reaching $25.57. 2,290 shares of the company’s stock traded hands, compared to its average volume of 166,827. Andersons has a 12 month low of $17.40 and a 12 month high of $38.23. The company has a market cap of $808.81 million, a P/E ratio of 15.73 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 1.40 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average price is $24.53 and its 200-day moving average price is $23.73.

Andersons (NASDAQ:ANDE) last announced its earnings results on Tuesday, November 5th. The basic materials company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.12). Andersons had a net margin of 0.49% and a return on equity of 5.19%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the firm posted $0.02 EPS. The business’s quarterly revenue was up 189.2% on a year-over-year basis. Equities analysts predict that Andersons will post 1.07 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Tuesday, December 31st. This is a boost from Andersons’s previous quarterly dividend of $0.17. Andersons’s payout ratio is 42.94%.

About Andersons

The Andersons, Inc, an agriculture company, operates in the grain, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Grain segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.

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