Wellington Management Group LLP Cuts Stock Holdings in The Andersons, Inc. $ANDE

Wellington Management Group LLP reduced its stake in shares of The Andersons, Inc. (NASDAQ:ANDE) by 46.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,942 shares of the basic materials company’s stock after selling 55,038 shares during the quarter. Wellington Management Group LLP owned 0.18% of Andersons worth $4,305,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ANDE. BlackRock Inc. bought a new stake in shares of Andersons in the 2nd quarter valued at about $427,688,000. Dimensional Fund Advisors LP grew its position in shares of Andersons by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,349,243 shares of the basic materials company’s stock worth $124,910,000 after buying an additional 17,278 shares during the last quarter. Rubric Capital Management LP purchased a new position in Andersons during the 4th quarter valued at $53,469,000. Janus Henderson Group PLC increased its position in shares of Andersons by 35.1% during the first quarter. Janus Henderson Group PLC now owns 860,942 shares of the basic materials company’s stock valued at $61,768,000 after buying an additional 223,600 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Andersons by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 822,812 shares of the basic materials company’s stock worth $43,757,000 after acquiring an additional 3,259 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Insider Transactions at Andersons

In other Andersons news, Director Patrick Bowe sold 3,534 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $80.53, for a total transaction of $284,593.02. Following the completion of the sale, the director owned 74,875 shares of the company’s stock, valued at approximately $6,029,683.75. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.30% of the company’s stock.

Andersons Stock Up 0.6%

Shares of ANDE stock opened at $71.32 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The Andersons, Inc. has a 12 month low of $37.69 and a 12 month high of $82.11. The stock has a market cap of $2.43 billion, a P/E ratio of 13.77 and a beta of 0.63. The company has a 50 day simple moving average of $70.19 and a two-hundred day simple moving average of $70.71.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings results on Monday, August 3rd. The basic materials company reported $2.15 earnings per share 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 quarter last year, the company posted $0.24 EPS. The company’s revenue was down 1.2% compared to the same quarter last year.

Andersons Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.80 annualized dividend and a yield of 1.1%. Andersons’s payout ratio is 15.44%.

Wall Street Analysts Forecast Growth

ANDE has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating on shares of Andersons in a research report on Monday, June 15th. Texas Capital raised Andersons to a “strong-buy” rating in a report on Thursday, June 18th. UBS Group set a $90.00 price objective on shares of Andersons in a research report on Wednesday, May 20th. The Goldman Sachs Group downgraded Andersons to a “buy” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings lowered Andersons from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Andersons currently has an average rating of “Buy” and a consensus price target of $95.00.

Andersons Company Profile

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.