Andersons (NASDAQ:ANDE) Posts Earnings Results, Beats Expectations By $0.38 EPS

Andersons (NASDAQ:ANDE) announced its earnings results on Tuesday. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.38, Zacks reports. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.85 billion. Andersons had a return on equity of 5.28% and a net margin of 0.70%.The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 earnings per share.

Andersons Trading Down 0.6%

Shares of Andersons stock opened at $46.41 on Wednesday. Andersons has a 1 year low of $31.03 and a 1 year high of $51.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.30 and a current ratio of 2.01. The company has a market capitalization of $1.59 billion, a P/E ratio of 19.75 and a beta of 0.76. The company’s fifty day moving average is $42.35 and its two-hundred day moving average is $38.70.

Andersons Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.78 annualized dividend and a dividend yield of 1.7%. Andersons’s dividend payout ratio (DPR) is presently 33.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ANDE. AQR Capital Management LLC grew its stake in shares of Andersons by 5.5% in the 1st quarter. AQR Capital Management LLC now owns 40,727 shares of the basic materials company’s stock valued at $1,748,000 after purchasing an additional 2,137 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Andersons by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,425 shares of the basic materials company’s stock valued at $834,000 after buying an additional 866 shares during the last quarter. Cetera Investment Advisers purchased a new position in Andersons in the 2nd quarter valued at $257,000. XTX Topco Ltd purchased a new stake in shares of Andersons in the second quarter valued at about $201,000. Finally, Norges Bank purchased a new stake in shares of Andersons in the second quarter valued at about $1,036,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Andersons in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Andersons presently has an average rating of “Moderate Buy” and a consensus price target of $51.67.

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.