Andersons COO Harold M. Reed Buys 2,000 Shares (ANDE)
Andersons (NASDAQ:ANDE) COO Harold M. Reed purchased 2,000 shares of Andersons stock on the open market in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $45.16 per share, for a total transaction of $90,320.00. Following the completion of the acquisition, the chief operating officer now directly owns 7,800 shares in the company, valued at approximately $352,248. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Andersons (NASDAQ:ANDE) traded up 7.50% on Wednesday, hitting $49.87. The stock had a trading volume of 197,027 shares. Andersons has a one year low of $33.8867 and a one year high of $65.28. The stock’s 50-day moving average is $56. and its 200-day moving average is $56.61. The company has a market cap of $1.404 billion and a P/E ratio of 13.15.
Andersons (NASDAQ:ANDE) last announced its earnings results on Wednesday, May 7th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.03 by $0.23. The company had revenue of $1.00 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company posted $0.45 earnings per share. Andersons’s revenue was down 21.1% compared to the same quarter last year. Analysts expect that Andersons will post $3.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, June 27th.
A number of analysts have recently weighed in on ANDE shares. Analysts at BMO Capital Markets upgraded shares of Andersons from a “market perform” rating to an “outperform” rating in a research note on Wednesday. They now have a $56.00 price target on the stock, up previously from $55.00. Separately, analysts at Feltl & Co. downgraded shares of Andersons from a “buy” rating to a “hold” rating in a research note on Friday, May 9th. They now have a $51.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Andersons from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 24th. They now have a $77.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Andersons currently has an average rating of “Hold” and an average target price of $64.00.
The Andersons, Inc is a diversified company engaged in agriculture business. The Company conducts business across North America in the grain, ethanol, and plant nutrient sectors, railcar leasing, turf and cob products, and consumer retailing.
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