27,111 The Andersons, Inc. $ANDE Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in shares of The Andersons, Inc. (NASDAQ:ANDE) by 27.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,268 shares of the basic materials company’s stock after buying an additional 27,111 shares during the period. ProShare Advisors LLC’s holdings in Andersons were worth $8,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ANDE. Crossmark Global Holdings Inc. increased its holdings in Andersons by 5.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,159 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 253 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Andersons by 1.6% during the third quarter. Nisa Investment Advisors LLC now owns 30,100 shares of the basic materials company’s stock valued at $1,978,000 after purchasing an additional 487 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Andersons in the second quarter valued at about $38,000. The Manufacturers Life Insurance Company grew its position in shares of Andersons by 4.3% in the first quarter. The Manufacturers Life Insurance Company now owns 15,993 shares of the basic materials company’s stock valued at $1,148,000 after purchasing an additional 656 shares during the period. Finally, Contravisory Investment Management Inc. grew its position in shares of Andersons by 17.4% in the third quarter. Contravisory Investment Management Inc. now owns 4,458 shares of the basic materials company’s stock valued at $293,000 after purchasing an additional 660 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

Andersons Stock Down 11.7%

Shares of NASDAQ ANDE opened at $55.35 on Thursday. The stock has a market cap of $1.88 billion, a PE ratio of 9.30 and a beta of 0.63. The company has a current ratio of 1.51, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The Andersons, Inc. has a 12-month low of $46.62 and a 12-month high of $82.11. The company has a 50-day moving average of $66.64 and a 200 day moving average of $69.06.

Andersons (NASDAQ:ANDE) last released its earnings results on Tuesday, November 3rd. The basic materials company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.97 billion. Andersons had a net margin of 1.84% and a return on equity of 17.35%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS.

Andersons Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.4%. The ex-dividend date was Thursday, October 1st. Andersons’s dividend payout ratio is presently 15.44%.

Key Andersons News

Here are the key news stories impacting Andersons this week:

• Positive Sentiment: The company agreed to acquire Harvestone Low Carbon Partners for $915 million. The deal adds about 215 million gallons of annual ethanol capacity, expanding The Andersons’ renewables platform by more than 40%. Management expects the acquisition to be immediately accretive to earnings per share and cash flow. The Andersons acquisition announcement
• Positive Sentiment: Third-quarter adjusted EPS of $1.38 topped the $1.11 analyst consensus, while revenue rose 5.8% year over year. Net income attributable to the company reached a third-quarter record of $46 million; Renewables also posted record pretax income of $63 million. The Andersons third-quarter results
• Neutral Sentiment: The acquisition’s strategic benefit comes with a substantial price tag. The company said approximately half of the $915 million purchase price reflects expected 45Z and 45Q tax-credit cash flows, making the deal’s value partly dependent on those incentives. Andersons to acquire Harvestone
• Negative Sentiment: Quarterly revenue of $2.83 billion came in below analysts’ $2.97 billion estimate, tempering the positive earnings surprise. Agribusiness pretax income was $5 million, or $9 million on an adjusted basis, well below Renewables’ contribution. Andersons Q3 adjusted earnings and revenue

Wall Street Analysts Forecast Growth

ANDE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $110.00 target price on shares of Andersons in a research note on Tuesday, August 4th. Wall Street Zen upgraded Andersons from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Weiss Ratings raised Andersons from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, BMO Capital Markets lifted their price target on Andersons from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $95.00.

Andersons Company Profile

The Andersons, Inc (NASDAQ: ANDE) is an agribusiness company that provides products and services supporting the agricultural supply chain. Founded in 1947 and headquartered in Maumee, Ohio, the company serves farmers, agricultural retailers, manufacturers, and other customers primarily in North America.

The company’s Trade segment merchandises and manages the movement and storage of grains and other agricultural commodities. Its operations include grain elevators, commodity trading, logistics, and related services that connect producers with domestic and international markets.

Through its Ethanol segment, The Andersons produces renewable fuels and markets co-products such as distillers grains and corn oil.