Pacer Advisors Inc. Takes $49.70 Million Position in The Andersons, Inc. (NASDAQ:ANDE)

Pacer Advisors Inc. acquired a new position in shares of The Andersons, Inc. (NASDAQ:ANDE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,077,005 shares of the basic materials company’s stock, valued at approximately $49,704,000. Pacer Advisors Inc. owned approximately 3.19% of Andersons as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ANDE. US Bancorp DE raised its stake in Andersons by 1,222.0% in the first quarter. US Bancorp DE now owns 661 shares of the basic materials company’s stock valued at $27,000 after buying an additional 611 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Andersons by 762.0% in the first quarter. Federated Hermes Inc. now owns 681 shares of the basic materials company’s stock worth $34,000 after buying an additional 602 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Andersons during the fourth quarter worth $40,000. Money Concepts Capital Corp grew its holdings in shares of Andersons by 817.4% during the fourth quarter. Money Concepts Capital Corp now owns 1,266 shares of the basic materials company’s stock valued at $44,000 after buying an additional 1,128 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Andersons during the first quarter valued at $66,000. Institutional investors own 85.16% of the company’s stock.

Analysts Set New Price Targets

ANDE has been the subject of several research reports. Roth Mkm lifted their price objective on shares of Andersons from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. StockNews.com began coverage on shares of Andersons in a research report on Thursday, August 17th. They set a “buy” rating for the company. Stephens increased their price target on Andersons from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Finally, Lake Street Capital raised their target price on Andersons from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd.

Andersons Price Performance

Shares of NASDAQ:ANDE traded up $0.22 during midday trading on Tuesday, reaching $50.80. 20,158 shares of the company’s stock traded hands, compared to its average volume of 238,851. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.11 and a current ratio of 1.82. The company has a market cap of $1.71 billion, a P/E ratio of 20.31 and a beta of 0.76. The Andersons, Inc. has a 1 year low of $30.00 and a 1 year high of $53.45. The company has a fifty day simple moving average of $50.22 and a two-hundred day simple moving average of $44.92.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.46. Andersons had a net margin of 0.51% and a return on equity of 7.79%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the company posted $2.39 EPS. Andersons’s quarterly revenue was down 9.7% compared to the same quarter last year. Equities analysts predict that The Andersons, Inc. will post 3.12 EPS for the current fiscal year.

Andersons Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Monday, October 2nd will be issued a $0.185 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.74 dividend on an annualized basis and a yield of 1.46%. Andersons’s payout ratio is currently 29.72%.

Insiders Place Their Bets

In related news, Director Michael J. Anderson sold 3,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $47.05, for a total transaction of $141,150.00. Following the completion of the sale, the director now owns 278,644 shares of the company’s stock, valued at approximately $13,110,200.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Michael J. Anderson sold 3,000 shares of Andersons stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $47.05, for a total transaction of $141,150.00. Following the transaction, the director now owns 278,644 shares in the company, valued at approximately $13,110,200.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Anderson sold 1,856 shares of Andersons stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $48.00, for a total transaction of $89,088.00. Following the transaction, the director now directly owns 276,788 shares in the company, valued at $13,285,824. The disclosure for this sale can be found here. Insiders have sold a total of 138,153 shares of company stock valued at $7,033,450 in the last 90 days. 5.70% of the stock is owned by insiders.

Andersons Company Profile

The Andersons, Inc operates in trade, renewables, and plant nutrient sectors in the United States and internationally. It operates through three segments: Trade, Renewables, and Plant Nutrient. 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, and corn oil.