Hsbc Holdings PLC Reduces Stock Position in The Andersons, Inc. $ANDE

Hsbc Holdings PLC cut its stake in The Andersons, Inc. (NASDAQ:ANDE) by 23.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,241 shares of the basic materials company’s stock after selling 7,488 shares during the quarter. Hsbc Holdings PLC’s holdings in Andersons were worth $1,289,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Andersons by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,349,243 shares of the basic materials company’s stock worth $124,910,000 after purchasing an additional 17,278 shares in the last quarter. Rubric Capital Management LP bought a new position in shares of Andersons in the fourth quarter worth $53,469,000. Geode Capital Management LLC raised its position in shares of Andersons by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 822,812 shares of the basic materials company’s stock worth $43,757,000 after buying an additional 3,259 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Andersons by 354.7% during the fourth quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company’s stock valued at $38,868,000 after buying an additional 570,245 shares during the period. Finally, Ophir Asset Management Pty Ltd bought a new stake in Andersons during the fourth quarter valued at $38,746,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Andersons Price Performance

Shares of ANDE opened at $72.21 on Monday. The stock has a market cap of $2.46 billion, a PE ratio of 19.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.62 and a current ratio of 1.37. The Andersons, Inc. has a fifty-two week low of $31.84 and a fifty-two week high of $82.11. The firm’s 50-day simple moving average is $71.07 and its two-hundred day simple moving average is $67.50.

Andersons (NASDAQ:ANDE) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.42. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.71 billion. Andersons had a net margin of 1.17% and a return on equity of 10.68%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share.

Andersons Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Andersons’s dividend payout ratio (DPR) is presently 21.28%.

Insider Activity at Andersons

In other Andersons news, Director Patrick E. Bowe sold 16,466 shares of Andersons stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $80.76, for a total value of $1,329,794.16. Following the completion of the sale, the director owned 78,409 shares of the company’s stock, valued at approximately $6,332,310.84. The trade was a 17.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 51,466 shares of company stock valued at $4,038,717 in the last three months. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group lowered Andersons to a “buy” rating in a report on Thursday, June 18th. UBS Group set a $90.00 target price on shares of Andersons in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Andersons from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Benchmark reissued a “buy” rating on shares of Andersons in a report on Monday, June 15th. Finally, Weiss Ratings raised shares of Andersons from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $85.00.

About Andersons

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.