Short Interest in The Andersons, Inc. (NASDAQ:ANDE) Declines By 16.2%

The Andersons, Inc. (NASDAQ:ANDE) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 888,300 shares, a decrease of 16.2% from the September 30th total of 1,060,000 shares. Based on an average trading volume of 147,900 shares, the days-to-cover ratio is currently 6.0 days. Currently, 2.8% of the company’s stock are short sold.

Andersons Price Performance

Shares of NASDAQ ANDE opened at $46.58 on Monday. The company has a market capitalization of $1.59 billion, a PE ratio of 13.16 and a beta of 0.57. The company has a quick ratio of 1.44, a current ratio of 2.07 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $48.87 and its 200-day moving average price is $50.73. Andersons has a twelve month low of $44.65 and a twelve month high of $61.46.

Andersons (NASDAQ:ANDE) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 0.83% and a return on equity of 6.99%. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the prior year, the business earned $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 issued a $0.19 dividend. 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 currently 21.47%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Andersons from a “hold” rating to a “buy” rating in a report on Thursday.

Hedge Funds Weigh In On Andersons

Several large investors have recently modified their holdings of ANDE. Pacer Advisors Inc. raised its stake in shares of Andersons by 8.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock valued at $185,390,000 after purchasing an additional 303,711 shares during the period. American Century Companies Inc. lifted its holdings in shares of Andersons by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 933,968 shares of the basic materials company’s stock worth $46,325,000 after acquiring an additional 134,126 shares during the last quarter. Victory Capital Management Inc. grew its position in Andersons by 8.7% in the second quarter. Victory Capital Management Inc. now owns 456,624 shares of the basic materials company’s stock worth $22,649,000 after acquiring an additional 36,594 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Andersons by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 336,714 shares of the basic materials company’s stock valued at $16,701,000 after acquiring an additional 5,983 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in Andersons by 3.7% during the first quarter. Bridgeway Capital Management LLC now owns 307,465 shares of the basic materials company’s stock valued at $17,639,000 after purchasing an additional 11,025 shares in the last quarter. Hedge funds and other institutional investors 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.