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 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07). The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Andersons had a net margin of 0.69% and a return on equity of 8.19%. The business’s quarterly revenue was down 30.0% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS.

Andersons Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were paid a $0.19 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.76 annualized dividend and a yield of 1.43%. Andersons’s dividend payout ratio is presently 25.85%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ANDE. StockNews.com upgraded shares of Andersons from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Roth Capital restated a “buy” rating and issued a $65.00 price target on shares of Andersons in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Andersons presently has an average rating of “Buy” and an average price target of $62.50.

Insiders Place Their Bets

In other Andersons 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 value of $177,000.00. Following the sale, the director now owns 209,968 shares of the company’s stock, valued at $12,388,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael J. Anderson sold 3,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $59.00, for a total transaction of $177,000.00. Following the completion of the sale, the director now directly owns 209,968 shares in the company, valued at approximately $12,388,112. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick E. Bowe sold 34,597 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $55.46, for a total value of $1,918,749.62. Following the completion of the sale, the chief executive officer now directly owns 83,515 shares of the company’s stock, valued at $4,631,741.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,245 shares of company stock worth $2,534,099. 5.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in Andersons by 64.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,314,734 shares of the basic materials company’s stock worth $133,190,000 after acquiring an additional 907,734 shares during the last quarter. American Century Companies Inc. raised its position in shares of Andersons by 68.2% in the third quarter. American Century Companies Inc. now owns 412,868 shares of the basic materials company’s stock valued at $21,267,000 after buying an additional 167,473 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Andersons by 54.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 143,178 shares of the basic materials company’s stock worth $7,375,000 after buying an additional 50,216 shares in the last quarter. Vanguard Group Inc. increased its position in Andersons by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,971,447 shares of the basic materials company’s stock worth $204,569,000 after purchasing an additional 47,494 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Andersons by 111.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 88,336 shares of the basic materials company’s stock worth $5,083,000 after purchasing an additional 46,587 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

Andersons Stock Performance

The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 17.78 and a beta of 0.69. The company has a 50 day simple moving average of $56.14 and a 200-day simple moving average of $53.93. The company has a quick ratio of 1.00, a current ratio of 1.72 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.