PDT Partners LLC Acquires New Shares in The Andersons, Inc. $ANDE

PDT Partners LLC acquired a new position in shares of The Andersons, Inc. (NASDAQ:ANDE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 107,500 shares of the basic materials company’s stock, valued at approximately $7,353,000.

A number of other institutional investors also recently bought and sold shares of ANDE. Canada Pension Plan Investment Board acquired a new stake in Andersons in the second quarter valued at $417,000. Legal & General Group Plc acquired a new position in shares of Andersons during the 2nd quarter worth $5,363,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Andersons in the 2nd quarter worth about $1,197,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Andersons in the 2nd quarter worth about $6,045,000. Finally, PEAK6 LLC acquired a new stake in Andersons in the 2nd quarter valued at about $457,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Andersons

In other news, Director Patrick E. 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 transaction of $284,593.02. Following the completion of the sale, the director directly owned 74,875 shares of the company’s stock, valued at $6,029,683.75. The trade was a 4.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is currently owned by company insiders.

Andersons Trading Up 0.2%

NASDAQ ANDE opened at $65.92 on Wednesday. The Andersons, Inc. has a 12 month low of $37.69 and a 12 month high of $82.11. The company has a 50-day moving average of $70.65 and a 200-day moving average of $70.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.51 and a quick ratio of 0.81. The company has a market cap of $2.24 billion, a P/E ratio of 12.73 and a beta of 0.66.

Andersons (NASDAQ:ANDE) last released 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. Andersons had a net margin of 1.62% and a return on equity of 16.23%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis.

Andersons Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. Andersons’s dividend payout ratio (DPR) is currently 15.44%.

Analyst Upgrades and Downgrades

ANDE has been the subject of several recent research reports. Benchmark restated a “buy” rating on shares of Andersons in a report on Monday, June 15th. The Goldman Sachs Group lowered shares of Andersons to a “buy” rating in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft set a $110.00 price objective on Andersons in a research report on Tuesday, August 4th. UBS Group set a $90.00 target price on Andersons in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded Andersons from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $95.00.

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.