Summit Global Investments Invests $590,000 in The Andersons, Inc. (NASDAQ:ANDE)

Summit Global Investments bought a new position in shares of The Andersons, Inc. (NASDAQ:ANDE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,249 shares of the basic materials company’s stock, valued at approximately $590,000.

Several other large investors also recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. purchased a new position in shares of Andersons during the 3rd quarter worth $33,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Andersons during the third quarter worth about $107,000. Meeder Asset Management Inc. acquired a new stake in shares of Andersons during the fourth quarter valued at about $110,000. Mackenzie Financial Corp purchased a new stake in shares of Andersons in the 4th quarter valued at approximately $215,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Andersons in the 3rd quarter worth approximately $216,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Andersons Stock Up 0.9 %

ANDE opened at $56.51 on Friday. The Andersons, Inc. has a one year low of $35.69 and a one year high of $61.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.72. The stock has a market capitalization of $1.92 billion, a P/E ratio of 19.22 and a beta of 0.69. The business’s 50-day simple moving average is $56.02 and its 200-day simple moving average is $53.82.

Andersons (NASDAQ:ANDE) last announced its earnings results on Wednesday, February 21st. The basic materials company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.48. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Andersons had a net margin of 0.69% and a return on equity of 8.19%. The company’s quarterly revenue was down 31.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. Analysts anticipate that The Andersons, Inc. will post 2.54 EPS for the current year.

Andersons Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Thursday, March 28th. Andersons’s dividend payout ratio is presently 25.85%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ANDE. Roth Capital restated a “buy” rating and set a $65.00 target price on shares of Andersons in a report on Tuesday, February 6th. StockNews.com raised shares of Andersons from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Andersons presently has a consensus rating of “Buy” and an average target price of $62.50.

Insider Activity at Andersons

In related news, Director Michael J. Anderson sold 3,000 shares of Andersons stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $59.00, for a total value of $177,000.00. Following the sale, the director now directly owns 209,968 shares in the company, valued at $12,388,112. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Michael J. Anderson sold 3,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $59.00, for a total transaction of $177,000.00. Following the sale, the director now owns 209,968 shares of the company’s stock, valued at $12,388,112. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick E. Bowe sold 2,623 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $55.22, for a total transaction of $144,842.06. Following the completion of the transaction, the chief executive officer now directly owns 90,653 shares of the company’s stock, valued at $5,005,858.66. The disclosure for this sale can be found here. Insiders have sold a total of 45,245 shares of company stock worth $2,534,099 in the last three months. Insiders own 5.10% of the company’s stock.

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.