The Andersons, Inc. (NASDAQ:ANDE) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in The Andersons, Inc. (NASDAQ:ANDE) by 6.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,813 shares of the basic materials company’s stock after selling 1,281 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of The Andersons worth $488,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ANDE. Lazard Asset Management LLC purchased a new stake in The Andersons during the 4th quarter worth approximately $27,000. Vantage Consulting Group Inc purchased a new stake in The Andersons during the 4th quarter worth approximately $30,000. Cornerstone Investment Partners LLC purchased a new stake in shares of The Andersons in the 1st quarter valued at approximately $203,000. Citigroup Inc. increased its position in shares of The Andersons by 201.1% in the 4th quarter. Citigroup Inc. now owns 7,932 shares of the basic materials company’s stock valued at $194,000 after purchasing an additional 5,298 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of The Andersons in the 4th quarter valued at approximately $213,000. Hedge funds and other institutional investors own 75.28% of the company’s stock.

A number of brokerages have commented on ANDE. Zacks Investment Research raised shares of The Andersons from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, May 5th. Seaport Global Securities reissued a “neutral” rating on shares of The Andersons in a research report on Thursday, February 25th. Finally, BMO Capital Markets increased their price objective on shares of The Andersons from $26.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, May 6th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The Andersons presently has an average rating of “Buy” and an average price target of $29.50.

The Andersons stock opened at $33.70 on Tuesday. The Andersons, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $34.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 0.60. The stock has a market cap of $1.12 billion, a P/E ratio of 18.52 and a beta of 0.68. The firm has a 50-day moving average price of $29.63.

The Andersons (NASDAQ:ANDE) last posted its earnings results on Monday, May 3rd. The basic materials company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.43. The Andersons had a return on equity of 5.35% and a net margin of 0.67%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.21 billion. Sell-side analysts forecast that The Andersons, Inc. will post 1.58 earnings per share for the current year.

About The Andersons

The Andersons, Inc, an agriculture company, operates in trade, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Trade segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.

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Institutional Ownership by Quarter for The Andersons (NASDAQ:ANDE)

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