Zacks Investment Research upgraded shares of The Andersons, Inc. (NASDAQ:ANDE) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Andersons has underperformed the industry in the past year. Andersons’ Ethanol Group continues to be affected by lower DDG margins due to problems with vomitoxin in the vicinities of the group's three eastern facilities. Andersons’ Plant Nutrient group continues to be impacted by an unfavorable combination of oversupply, low prices and argins. Also, the Rail Group continues to be impacted by an oversupplied market, so far this year. Nevertheless, the company expects net income in 2017 to be better than 2016 levels. The Grain and Ethanol groups will continue to perform well. Andersons continues to make strong progress in its cost savings and productivity initiatives. It is consistently working toward a leaner and more scalable infrastructure.”
ANDE has been the subject of a number of other reports. Stephens cut shares of The Andersons from an overweight rating to an equal weight rating and lowered their target price for the stock from $42.00 to $35.00 in a research note on Monday, August 7th. BidaskClub upgraded shares of The Andersons from a strong sell rating to a sell rating in a research note on Friday, August 11th.
Shares of The Andersons (NASDAQ ANDE) opened at $36.75 on Wednesday. The company has a market cap of $1,042.08, a P/E ratio of 35.68 and a beta of 1.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.35 and a quick ratio of 0.52. The Andersons has a 12 month low of $30.80 and a 12 month high of $44.90.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 23rd. Shareholders of record on Monday, October 2nd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, September 29th. The Andersons’s payout ratio is -101.59%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in The Andersons by 0.7% during the 2nd quarter. BlackRock Inc. now owns 3,307,404 shares of the basic materials company’s stock valued at $112,946,000 after acquiring an additional 23,577 shares during the period. Vanguard Group Inc. lifted its stake in The Andersons by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,702,489 shares of the basic materials company’s stock valued at $92,290,000 after acquiring an additional 56,248 shares during the period. Dimensional Fund Advisors LP lifted its stake in The Andersons by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,385,317 shares of the basic materials company’s stock valued at $81,458,000 after acquiring an additional 104,417 shares during the period. Victory Capital Management Inc. lifted its stake in The Andersons by 17.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,346,129 shares of the basic materials company’s stock valued at $80,355,000 after acquiring an additional 340,400 shares during the period. Finally, Northern Trust Corp lifted its stake in The Andersons by 32.2% during the 2nd quarter. Northern Trust Corp now owns 1,167,843 shares of the basic materials company’s stock valued at $39,881,000 after acquiring an additional 284,215 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.
The Andersons Company Profile
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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