JPMorgan Chase & Co. Sells 18,706 Shares of The Andersons, Inc. $ANDE

JPMorgan Chase & Co. cut its holdings in The Andersons, Inc. (NASDAQ:ANDE) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 244,691 shares of the basic materials company’s stock after selling 18,706 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.72% of Andersons worth $9,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Andersons in the third quarter valued at about $30,000. Larson Financial Group LLC raised its stake in Andersons by 33,600.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,011 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 1,008 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Andersons by 227.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the basic materials company’s stock valued at $109,000 after buying an additional 2,053 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Andersons by 57.1% in the second quarter. Canada Pension Plan Investment Board now owns 4,400 shares of the basic materials company’s stock worth $162,000 after acquiring an additional 1,600 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of Andersons during the 3rd quarter valued at about $183,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Andersons in a research note on Wednesday, January 21st. Wall Street Zen cut Andersons from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Benchmark reissued a “buy” rating on shares of Andersons in a research note on Wednesday, February 18th. Finally, BMO Capital Markets boosted their price target on shares of Andersons from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Andersons presently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Insiders Place Their Bets

In related news, Director Patrick E. Bowe sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $70.41, for a total transaction of $1,056,150.00. Following the completion of the sale, the director owned 159,875 shares in the company, valued at $11,256,798.75. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Stout, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $70.30, for a total transaction of $175,750.00. Following the sale, the director owned 23,441 shares of the company’s stock, valued at $1,647,902.30. This represents a 9.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,299 shares of company stock worth $2,051,771 over the last 90 days. Insiders own 4.30% of the company’s stock.

Andersons Price Performance

Andersons stock opened at $73.19 on Friday. The firm has a market cap of $2.49 billion, a PE ratio of 26.14 and a beta of 0.74. The company’s 50 day moving average is $65.93 and its two-hundred day moving average is $54.44. The Andersons, Inc. has a 52-week low of $31.03 and a 52-week high of $73.97. The company has a quick ratio of 0.60, a current ratio of 1.41 and a debt-to-equity ratio of 0.43.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings results on Tuesday, February 17th. The basic materials company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.48. Andersons had a return on equity of 7.76% and a net margin of 0.87%.The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the business earned $1.31 EPS. Andersons’s revenue was down 18.8% on a year-over-year basis. On average, research analysts expect that The Andersons, Inc. will post 3.11 EPS for the current fiscal year.

Andersons Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, April 1st. Andersons’s dividend payout ratio is 28.57%.

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.