Andersons (NASDAQ:ANDE) Shares Gap Up Following Earnings Beat

The Andersons, Inc. (NASDAQ:ANDE) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $40.77, but opened at $47.13. Andersons shares last traded at $51.20, with a volume of 92,772 shares.

The basic materials company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.34. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Andersons had a net margin of 1.06% and a return on equity of 8.21%.

Andersons Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 1st will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Andersons’s dividend payout ratio is presently 22.29%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ANDE shares. Stephens reaffirmed an “overweight” rating and set a $55.00 target price on shares of Andersons in a research report on Wednesday. StockNews.com raised shares of Andersons from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th.

Insider Activity

In related news, insider Joseph E. Mcneely sold 2,382 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $47.73, for a total transaction of $113,692.86. Following the completion of the sale, the insider now owns 49,601 shares in the company, valued at approximately $2,367,455.73. This represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peoples Bank KS grew its position in Andersons by 250.0% during the fourth quarter. Peoples Bank KS now owns 700 shares of the basic materials company’s stock valued at $28,000 after buying an additional 500 shares during the period. KBC Group NV increased its stake in shares of Andersons by 70.3% during the 4th quarter. KBC Group NV now owns 1,558 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 643 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Andersons in the 3rd quarter worth approximately $98,000. EverSource Wealth Advisors LLC lifted its stake in Andersons by 16.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,866 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 412 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in Andersons in the third quarter worth $227,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Andersons Price Performance

The stock has a market cap of $1.74 billion, a PE ratio of 14.64 and a beta of 0.58. The company has a current ratio of 1.98, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $41.80 and a 200 day moving average price of $45.93.

About Andersons

The Andersons, Inc operates in trade, renewables, and nutrient and industrial sectors in the United States, Canada, Mexico, Egypt, Switzerland, and internationally. It operates through three segments: Trade, Renewables, and Nutrient & Industrial. The company’s Trade segment operates grain elevators; stores commodities; and provides grain marketing, risk management, and origination services, as well as sells commodities, such as corn, soybeans, wheat, oats, ethanol, and corn oil.