Wellington Management Group LLP Sells 55,038 Shares of The Andersons, Inc. $ANDE

Wellington Management Group LLP lowered its position in shares of The Andersons, Inc. (NASDAQ:ANDE) by 46.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,942 shares of the basic materials company’s stock after selling 55,038 shares during the quarter. Wellington Management Group LLP’s holdings in Andersons were worth $4,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Andersons by 5.5% during the 1st quarter. AQR Capital Management LLC now owns 40,727 shares of the basic materials company’s stock valued at $1,748,000 after purchasing an additional 2,137 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Andersons by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,425 shares of the basic materials company’s stock worth $834,000 after buying an additional 866 shares during the period. Cetera Investment Advisers bought a new position in Andersons in the 2nd quarter worth $257,000. XTX Topco Ltd purchased a new stake in Andersons in the 2nd quarter worth $201,000. Finally, Norges Bank purchased a new stake in Andersons in the 2nd quarter worth $1,036,000. 87.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Andersons

In related news, Director Patrick Bowe sold 3,534 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $80.53, for a total value of $284,593.02. Following the sale, the director owned 74,875 shares in the company, valued at approximately $6,029,683.75. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group set a $90.00 price target on Andersons in a report on Wednesday, May 20th. Weiss Ratings cut Andersons from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. The Goldman Sachs Group downgraded Andersons to a “buy” rating in a research note on Thursday, June 18th. BMO Capital Markets boosted their price target on Andersons from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft set a $110.00 price target on Andersons in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $95.00.

Andersons Stock Up 0.6%

ANDE opened at $71.32 on Thursday. The company has a market capitalization of $2.43 billion, a PE ratio of 13.77 and a beta of 0.63. The firm has a 50-day simple moving average of $70.19 and a two-hundred day simple moving average of $70.71. The company has a quick ratio of 0.81, a current ratio of 1.51 and a debt-to-equity ratio of 0.42. The Andersons, Inc. has a 52 week low of $37.69 and a 52 week high of $82.11.

Andersons (NASDAQ:ANDE) last issued its earnings results on Monday, August 3rd. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.67. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Andersons had a return on equity of 16.23% and a net margin of 1.62%.The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share.

Andersons Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. Andersons’s dividend payout ratio (DPR) is 15.44%.

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.