SummerHaven Investment Management LLC Boosts Stake in The Andersons, Inc. (NASDAQ:ANDE)

SummerHaven Investment Management LLC increased its stake in The Andersons, Inc. (NASDAQ:ANDE) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,596 shares of the basic materials company’s stock after purchasing an additional 353 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Andersons were worth $712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in Andersons in the fourth quarter worth about $591,000. Proficio Capital Partners LLC purchased a new stake in Andersons in the 4th quarter worth approximately $728,000. Bank of New York Mellon Corp raised its stake in Andersons by 14.2% during the 4th quarter. Bank of New York Mellon Corp now owns 353,271 shares of the basic materials company’s stock worth $14,315,000 after acquiring an additional 44,022 shares during the period. Barclays PLC raised its stake in Andersons by 347.7% during the 3rd quarter. Barclays PLC now owns 54,358 shares of the basic materials company’s stock worth $2,725,000 after acquiring an additional 42,217 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Andersons by 60.7% during the fourth quarter. Bank of America Corp DE now owns 74,639 shares of the basic materials company’s stock valued at $3,024,000 after purchasing an additional 28,182 shares in the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $55.00 price objective on shares of Andersons in a research note on Wednesday, February 19th. BMO Capital Markets started coverage on shares of Andersons in a report on Tuesday, May 6th. They issued a “market perform” rating and a $45.00 target price for the company. Lake Street Capital decreased their price target on Andersons from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded Andersons from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th.

Andersons Trading Down 1.4%

Shares of ANDE opened at $35.42 on Thursday. The firm has a market cap of $1.21 billion, a P/E ratio of 10.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 0.90. The Andersons, Inc. has a 1 year low of $31.03 and a 1 year high of $55.52. The company has a 50 day simple moving average of $36.23 and a two-hundred day simple moving average of $40.62.

Andersons (NASDAQ:ANDE) last posted its earnings results on Tuesday, May 6th. The basic materials company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.20. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Andersons had a net margin of 1.01% and a return on equity of 7.59%. Andersons’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. On average, equities analysts expect that The Andersons, Inc. will post 3.11 earnings per share for the current fiscal year.

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.