Andersons (NASDAQ:ANDE) Shares Gap Down Following Weak Earnings

The Andersons, Inc. (NASDAQ:ANDE)’s stock price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $56.14, but opened at $52.14. Andersons shares last traded at $52.68, with a volume of 60,738 shares trading hands.

The basic materials company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). Andersons had a net margin of 0.69% and a return on equity of 8.19%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company posted $0.20 EPS. The business’s revenue for the quarter was down 30.0% compared to the same quarter last year.

Andersons Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 28th. Andersons’s dividend payout ratio is presently 25.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ANDE shares. StockNews.com downgraded Andersons from a “buy” rating to a “hold” rating in a report on Thursday. Roth Capital reiterated a “buy” rating and set a $65.00 target price on shares of Andersons in a research note on Tuesday, February 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Andersons has an average rating of “Moderate Buy” and a consensus price target of $62.50.

Insider Buying and Selling

In other Andersons news, Director Michael J. Anderson sold 3,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $59.00, for a total value of $177,000.00. Following the sale, the director now directly owns 209,968 shares of the company’s stock, valued at $12,388,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael J. Anderson sold 3,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $59.00, for a total transaction of $177,000.00. Following the completion of the transaction, the director now owns 209,968 shares in the company, valued at $12,388,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick E. Bowe sold 2,623 shares of Andersons stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $55.22, for a total transaction of $144,842.06. Following the completion of the sale, the chief executive officer now owns 90,653 shares in the company, valued at $5,005,858.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,245 shares of company stock valued at $2,534,099. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Andersons

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Andersons by 65.8% during the 1st quarter. GAMMA Investing LLC now owns 524 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 208 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Andersons in the third quarter worth about $33,000. Creekmur Asset Management LLC bought a new position in Andersons in the 4th quarter valued at about $41,000. Larson Financial Group LLC acquired a new position in Andersons during the 1st quarter valued at about $57,000. Finally, Global Retirement Partners LLC acquired a new position in Andersons during the 1st quarter valued at about $66,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Andersons Price Performance

The business’s 50-day simple moving average is $56.02 and its 200 day simple moving average is $53.90. The company has a market capitalization of $1.80 billion, a P/E ratio of 17.98 and a beta of 0.69. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

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.