Andersons (NASDAQ:ANDE) Sets New 1-Year High – What’s Next?
by Sarita Garza · The Markets DailyThe Andersons, Inc. (NASDAQ:ANDE – Get Free Report) hit a new 52-week high on Monday . The company traded as high as $67.62 and last traded at $67.6120, with a volume of 66266 shares. The stock had previously closed at $66.86.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Andersons in a research note on Wednesday, January 21st. BMO Capital Markets raised shares of Andersons from a “market perform” rating to an “outperform” rating and raised their target price for the company from $50.00 to $65.00 in a research note on Wednesday, December 10th. Finally, Benchmark upgraded shares of Andersons to a “strong-buy” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Andersons presently has an average rating of “Buy” and a consensus target price of $62.50.
Get Our Latest Research Report on Andersons
Andersons Stock Up 2.3%
The firm has a market cap of $2.34 billion, a P/E ratio of 32.29 and a beta of 0.77. The firm’s 50 day moving average is $57.13 and its two-hundred day moving average is $47.99. 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 Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, January 2nd were given a $0.20 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Andersons’s previous quarterly dividend of $0.20. Andersons’s dividend payout ratio is currently 37.38%.
Insider Buying and Selling
In other Andersons news, Director John T. Stout, Jr. sold 5,000 shares of Andersons stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the director directly owned 25,941 shares in the company, valued at approximately $1,426,755. The trade was a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.30% of the company’s stock.
Hedge Funds Weigh In On Andersons
Several institutional investors have recently modified their holdings of ANDE. Wealth Enhancement Advisory Services LLC bought a new stake in Andersons during the 3rd quarter worth approximately $30,000. Optima Capital LLC bought a new position in Andersons in the fourth quarter valued at approximately $32,000. Larson Financial Group LLC boosted its holdings in shares of Andersons by 33,600.0% in the third quarter. Larson Financial Group LLC now owns 1,011 shares of the basic materials company’s stock valued at $40,000 after buying an additional 1,008 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Andersons by 95.2% during the fourth 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. Finally, GAMMA Investing LLC raised its holdings in shares of Andersons by 34.8% during the fourth quarter. GAMMA Investing LLC now owns 1,266 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 327 shares during the period. Institutional investors own 87.06% of the company’s stock.
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.