The Andersons Sets New 1-Year High Following Dividend Announcement (ANDE)
The Andersons (NASDAQ:ANDE) shares reached a new 52-week high on Friday after the company announced a dividend, AR Network reports. The company traded as high as $68.74 and last traded at $68.47, with a volume of 175,251 shares traded. The stock had previously closed at $67.17.
The newly announced dividend is scheduled for Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.66%.
ANDE has been the subject of a number of recent research reports. Analysts at BMO Capital Markets raised their price target on shares of The Andersons from $56.00 to $65.00 in a research note on Friday, August 8th. Separately, analysts at Zacks reiterated an “outperform” rating on shares of The Andersons in a research note on Friday, August 8th. They now have a $72.00 price target on the stock. Finally, analysts at Feltl & Co. upgraded shares of The Andersons from a “hold” rating to a “buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The Andersons presently has an average rating of “Buy” and an average target price of $64.75.
The stock has a 50-day moving average of $58.95 and a 200-day moving average of $56.24. The company has a market cap of $1.936 billion and a price-to-earnings ratio of 16.59. The Andersons also was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 679,091 shares, a decrease of 30.0% from the July 31st total of 970,657 shares. Based on an average daily volume of 340,366 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.6% of the company’s shares are sold short.
The Andersons (NASDAQ:ANDE) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.16 by $0.40. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company posted $1.05 earnings per share. The Andersons’s revenue was down 16.3% compared to the same quarter last year. On average, analysts predict that The Andersons will post $4.36 earnings per share for the current fiscal year.
In other The Andersons news, VP Anne G. Rex unloaded 1,500 shares of The Andersons stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $66.69, for a total transaction of $100,035.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.