Andersons (NASDAQ:ANDE) Downgraded by StockNews.com

StockNews.com cut shares of Andersons (NASDAQ:ANDE) from a buy rating to a hold rating in a report published on Friday.

Andersons Stock Up 2.9 %

Shares of NASDAQ:ANDE opened at $50.22 on Friday. The stock has a 50-day simple moving average of $49.72 and a 200-day simple moving average of $52.74. The stock has a market capitalization of $1.71 billion, a P/E ratio of 14.19 and a beta of 0.61. Andersons has a 1 year low of $45.07 and a 1 year high of $61.46. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.13 and a current ratio of 2.04.

Andersons (NASDAQ:ANDE) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $3.20 billion. Andersons had a return on equity of 7.93% and a net margin of 0.89%. Andersons’s revenue was down 30.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS.

Andersons Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. Andersons’s payout ratio is currently 21.47%.

Hedge Funds Weigh In On Andersons

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Andersons by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,686 shares of the basic materials company’s stock valued at $845,000 after purchasing an additional 329 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Andersons by 111.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 88,336 shares of the basic materials company’s stock worth $5,083,000 after acquiring an additional 46,587 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Andersons in the fourth quarter worth about $915,000. Mackenzie Financial Corp acquired a new stake in Andersons during the 4th quarter valued at approximately $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Andersons by 29.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,407 shares of the basic materials company’s stock worth $426,000 after purchasing an additional 1,707 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Andersons Company Profile

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.