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.
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