The Andersons, Inc. $ANDE Shares Purchased by Royal Bank of Canada

Royal Bank of Canada increased its position in shares of The Andersons, Inc. (NASDAQ:ANDE) by 689.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 39,706 shares of the basic materials company’s stock after buying an additional 34,677 shares during the quarter. Royal Bank of Canada’s holdings in Andersons were worth $2,850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Andersons by 5.5% in the first quarter. AQR Capital Management LLC now owns 40,727 shares of the basic materials company’s stock valued at $1,748,000 after acquiring an additional 2,137 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Andersons by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,425 shares of the basic materials company’s stock worth $834,000 after acquiring an additional 866 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Andersons in the 2nd quarter valued at $257,000. XTX Topco Ltd acquired a new position in shares of Andersons in the 2nd quarter valued at $201,000. Finally, Norges Bank purchased a new stake in Andersons in the 2nd quarter valued at $1,036,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Insider Activity

In related news, Director Patrick E. Bowe sold 3,534 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $80.53, for a total transaction of $284,593.02. Following the completion of the transaction, the director directly owned 74,875 shares of the company’s stock, valued at $6,029,683.75. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ANDE has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Andersons in a research note on Tuesday, August 4th. UBS Group set a $90.00 price objective on shares of Andersons in a research note on Wednesday, May 20th. The Goldman Sachs Group cut shares of Andersons to a “buy” rating in a report on Thursday, June 18th. BMO Capital Markets increased their target price on shares of Andersons from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Andersons from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Andersons has an average rating of “Buy” and a consensus price target of $95.00.

Andersons Price Performance

Shares of NASDAQ ANDE opened at $65.90 on Monday. The stock has a fifty day moving average price of $71.23 and a 200 day moving average price of $70.42. The Andersons, Inc. has a 1-year low of $37.69 and a 1-year high of $82.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.51 and a quick ratio of 0.81. The company has a market cap of $2.24 billion, a PE ratio of 12.72 and a beta of 0.66.

Andersons (NASDAQ:ANDE) last announced its quarterly earnings data on Monday, August 3rd. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.67. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Andersons had a net margin of 1.62% and a return on equity of 16.23%. Andersons’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS.

Andersons Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, July 1st. Andersons’s payout ratio is 15.44%.

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.