Redmont Wealth Advisors LLC Has $589,000 Stock Position in The Andersons, Inc. (NASDAQ:ANDE)

Redmont Wealth Advisors LLC cut its holdings in shares of The Andersons, Inc. (NASDAQ:ANDE) by 7.1% during the third quarter, HoldingsChannel.com reports. The firm owned 11,745 shares of the basic materials company’s stock after selling 902 shares during the quarter. Andersons makes up 0.9% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 27th biggest position. Redmont Wealth Advisors LLC’s holdings in Andersons were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. nVerses Capital LLC bought a new position in Andersons in the second quarter valued at approximately $25,000. GAMMA Investing LLC boosted its position in shares of Andersons by 65.8% in the 1st quarter. GAMMA Investing LLC now owns 524 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 208 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Andersons during the first quarter worth $57,000. Innealta Capital LLC bought a new stake in Andersons in the second quarter valued at about $57,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Andersons by 323.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the basic materials company’s stock valued at $60,000 after buying an additional 828 shares during the period. Institutional investors own 87.06% of the company’s stock.

Andersons Stock Up 0.6 %

Shares of NASDAQ:ANDE opened at $49.32 on Friday. The company has a 50 day moving average price of $49.01 and a two-hundred day moving average price of $51.23. The company has a market capitalization of $1.68 billion, a PE ratio of 13.93 and a beta of 0.57. The Andersons, Inc. has a 52 week low of $44.65 and a 52 week high of $61.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.07.

Andersons (NASDAQ:ANDE) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $3.20 billion. Andersons had a net margin of 0.83% and a return on equity of 6.99%. Andersons’s quarterly revenue was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS.

Andersons Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Tuesday, October 1st. Andersons’s dividend payout ratio (DPR) is presently 21.47%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Andersons from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th.

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.