Andersons (NASDAQ:ANDE) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Andersons (NASDAQ:ANDE) from a hold rating to a buy rating in a report published on Thursday morning.

Andersons Trading Up 0.4 %

Shares of ANDE stock opened at $46.51 on Thursday. Andersons has a twelve month low of $44.65 and a twelve month high of $61.46. The firm has a 50-day moving average price of $48.95 and a 200 day moving average price of $50.90. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 13.14 and a beta of 0.57. The company has a current ratio of 2.07, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

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

Andersons Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Tuesday, October 1st. Andersons’s dividend payout ratio (DPR) is presently 21.47%.

Hedge Funds Weigh In On Andersons

Several hedge funds and other institutional investors have recently modified their holdings of ANDE. Summit Place Financial Advisors LLC grew its holdings in Andersons by 5.9% during the third quarter. Summit Place Financial Advisors LLC now owns 22,186 shares of the basic materials company’s stock worth $1,112,000 after acquiring an additional 1,230 shares during the period. Inspire Advisors LLC lifted its holdings in shares of Andersons by 11.8% during the third quarter. Inspire Advisors LLC now owns 4,547 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 480 shares during the last quarter. Creative Planning boosted its position in shares of Andersons by 6.2% in the 3rd quarter. Creative Planning now owns 5,261 shares of the basic materials company’s stock valued at $264,000 after purchasing an additional 309 shares during the period. Exchange Traded Concepts LLC increased its stake in Andersons by 21.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,851 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 3,490 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in Andersons by 15.5% during the 3rd quarter. Inspire Investing LLC now owns 9,191 shares of the basic materials company’s stock worth $461,000 after buying an additional 1,234 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

Andersons Company Profile

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.