Prudential Financial Inc. Lowers Stock Holdings in The Andersons, Inc. $ANDE

Prudential Financial Inc. cut its holdings in The Andersons, Inc. (NASDAQ:ANDE) by 32.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 93,288 shares of the basic materials company’s stock after selling 44,999 shares during the period. Prudential Financial Inc.’s holdings in Andersons were worth $3,428,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Andersons by 2.9% in the first quarter. Vanguard Group Inc. now owns 4,113,185 shares of the basic materials company’s stock valued at $176,579,000 after purchasing an additional 115,948 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Andersons by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 800,220 shares of the basic materials company’s stock worth $34,353,000 after buying an additional 48,596 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in Andersons in the 1st quarter valued at about $201,000. Invesco Ltd. increased its stake in shares of Andersons by 12.5% during the 1st quarter. Invesco Ltd. now owns 615,797 shares of the basic materials company’s stock valued at $26,436,000 after acquiring an additional 68,498 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Andersons during the 1st quarter valued at about $5,439,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Andersons Stock Up 1.5%

ANDE opened at $52.64 on Wednesday. The Andersons, Inc. has a 1 year low of $31.03 and a 1 year high of $53.29. The firm has a 50 day moving average price of $46.39 and a 200 day moving average price of $40.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.47. The company has a market cap of $1.78 billion, a PE ratio of 24.60 and a beta of 0.79.

Andersons (NASDAQ:ANDE) last announced its quarterly earnings results on Tuesday, November 4th. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.38. Andersons had a net margin of 0.63% and a return on equity of 5.83%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the company posted $0.80 earnings per share. Andersons’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts expect that The Andersons, Inc. will post 3.11 earnings per share for the current year.

Insider Buying and Selling at Andersons

In related news, VP Anne G. Rex sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $51.36, for a total transaction of $154,080.00. Following the completion of the sale, the vice president directly owned 23,549 shares of the company’s stock, valued at approximately $1,209,476.64. This represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

ANDE has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their target price on shares of Andersons from $45.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Andersons in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.33.

About Andersons

The Andersons, Inc operates in trade, renewables, and nutrient and industrial sectors in the United States, Canada, Mexico, Egypt, Switzerland, and internationally. It operates through three segments: Trade, Renewables, and Nutrient & Industrial. The company’s Trade segment operates grain elevators; stores commodities; and provides grain marketing, risk management, and origination services, as well as sells commodities, such as corn, soybeans, wheat, oats, ethanol, and corn oil.