Panagora Asset Management Inc. Sells 47,971 Shares of The Andersons, Inc. $ANDE
Panagora Asset Management Inc. reduced its stake in The Andersons, Inc. by 48% in Q2, selling 47,971 shares. The Andersons' stock opened at $50.69, with a 52-week range of $31.03-$53.29. Analysts have a consensus rating of "Moderate Buy" and a price target of $53.33. The company reported Q3 earnings of $0.84 per share, beating estimates, with revenue of $2.68 billion, up 2.2% year-over-year.
Panagora Asset Management Inc. trimmed its position in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 48.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,041 shares of the basic materials company's stock after selling 47,971 shares during the period. Panagora Asset Management Inc. owned 0.15% of Andersons worth $1,913,000 as of its most recent filing with the Securities and Exchange Commission.
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Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Andersons by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 4,113,185 shares of the basic materials company's stock valued at $176,579,000 after acquiring an additional 115,948 shares during the period. Charles Schwab Investment Management Inc. lifted 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 valued at $34,353,000 after purchasing an additional 48,596 shares during the last quarter. Geode Capital Management LLC lifted its stake in Andersons by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 799,891 shares of the basic materials company's stock valued at $29,400,000 after purchasing an additional 4,495 shares during the last quarter. Invesco Ltd. grew its holdings in Andersons by 12.5% during the first quarter. Invesco Ltd. now owns 615,797 shares of the basic materials company's stock worth $26,436,000 after purchasing an additional 68,498 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in Andersons by 1.1% during the first quarter. Bridgeway Capital Management LLC now owns 339,311 shares of the basic materials company's stock worth $14,567,000 after buying an additional 3,572 shares during the last quarter. 87.06% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Andersons in a research report on Wednesday, October 8th. BMO Capital Markets increased their price target on Andersons from $45.00 to $50.00 and gave the company a "market perform" rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.33.
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Check Out Our Latest Stock Analysis on Andersons
Andersons Price Performance
NASDAQ:ANDE opened at $50.69 on Friday. The firm's 50-day simple moving average is $46.86 and its 200 day simple moving average is $40.79. The Andersons, Inc. has a 52 week low of $31.03 and a 52 week high of $53.29. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 23.69 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.47.
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Andersons (NASDAQ:ANDE - Get Free Report) last announced its earnings results on Tuesday, November 4th. The basic materials company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.46 by $0.38. Andersons had a net margin of 0.63% and a return on equity of 5.83%. The company had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same period last year, the firm earned $0.80 earnings per share. The business's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict 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 stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $51.36, for a total value of $154,080.00. Following the completion of the sale, the vice president directly owned 23,549 shares in the company, valued at $1,209,476.64. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.30% of the company's stock.
Andersons Company Profile
(Free Report)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.
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