Bank of New York Mellon Corp Grows Holdings in The Andersons, Inc. (ANDE)
Bank of New York Mellon Corp grew its position in shares of The Andersons, Inc. (NASDAQ:ANDE) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 440,426 shares of the basic materials company’s stock after purchasing an additional 32,780 shares during the period. Bank of New York Mellon Corp owned approximately 1.56% of The Andersons worth $15,042,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in The Andersons by 119.3% during the first quarter. SG Americas Securities LLC now owns 5,727 shares of the basic materials company’s stock worth $217,000 after purchasing an additional 3,115 shares in the last quarter. Principal Financial Group Inc. lifted its stake in The Andersons by 4.6% during the first quarter. Principal Financial Group Inc. now owns 199,360 shares of the basic materials company’s stock worth $7,555,000 after purchasing an additional 8,761 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in The Andersons by 11.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 254,054 shares of the basic materials company’s stock worth $9,629,000 after purchasing an additional 25,387 shares in the last quarter. Bank of America Corp DE lifted its stake in The Andersons by 46.0% during the first quarter. Bank of America Corp DE now owns 167,703 shares of the basic materials company’s stock worth $6,356,000 after purchasing an additional 52,865 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of The Andersons by 9,971.2% during the first quarter. BlackRock Inc. now owns 3,283,827 shares of the basic materials company’s stock worth $124,456,000 after acquiring an additional 3,251,221 shares during the period. Institutional investors own 77.02% of the company’s stock.
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Shares of The Andersons, Inc. (ANDE) opened at 33.90 on Thursday. The Andersons, Inc. has a 52-week low of $30.80 and a 52-week high of $44.90. The stock’s 50 day moving average price is $32.40 and its 200-day moving average price is $35.00. The stock’s market cap is $961.07 million.
The Andersons (NASDAQ:ANDE) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.17). The business had revenue of $993.70 million for the quarter, compared to analyst estimates of $1.06 billion. The Andersons had a negative net margin of 0.47% and a positive return on equity of 3.77%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. On average, analysts predict that The Andersons, Inc. will post $1.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 23rd. Investors of record on Monday, October 2nd will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, September 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.89%. The Andersons’s payout ratio is -101.59%.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised The Andersons from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 6th. BidaskClub lowered The Andersons from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, Stephens lowered The Andersons from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $42.00 to $35.00 in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The Andersons presently has an average rating of “Hold” and an average target price of $40.00.
About The Andersons
The Andersons, Inc is a diversified company. The Company conducts business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also produces turf and cob products, and has a consumer retailing presence. The Company operates through segments, including Grain, Ethanol, Rail, Plant Nutrient and Retail.
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