Connor Clark & Lunn Investment Management Ltd. Invests $6.04 Million in The Andersons, Inc. $ANDE

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of The Andersons, Inc. (NASDAQ:ANDE) in the second quarter, HoldingsChannel.com reports. The fund purchased 88,374 shares of the basic materials company’s stock, valued at approximately $6,045,000.

Other large investors have also bought and sold shares of the company. PEAK6 LLC bought a new position in Andersons in the second quarter valued at approximately $457,000. Compass Financial Management LLC bought a new stake in shares of Andersons during the 2nd quarter valued at $1,587,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Andersons during the 2nd quarter valued at $82,000. Quantbot Technologies LP acquired a new position in shares of Andersons in the 2nd quarter valued at $1,943,000. Finally, De Lisle Partners LLP acquired a new position in shares of Andersons in the 2nd quarter valued at $3,371,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Andersons Price Performance

Shares of ANDE stock opened at $63.73 on Friday. The Andersons, Inc. has a 12-month low of $37.69 and a 12-month high of $82.11. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 12.30 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 1.51 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $70.43 and a 200-day moving average of $70.63.

Andersons (NASDAQ:ANDE) last released its quarterly earnings data on Monday, August 3rd. The basic materials company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.67. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Andersons had a net margin of 1.62% and a return on equity of 16.23%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS.

Andersons Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 1st. Andersons’s dividend payout ratio is 15.44%.

Insider Activity

In other news, Director Patrick E. Bowe sold 3,534 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $80.53, for a total transaction of $284,593.02. Following the sale, the director owned 74,875 shares of the company’s stock, valued at $6,029,683.75. This trade represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen raised Andersons from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. UBS Group set a $90.00 target price on Andersons in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft set a $110.00 target price on Andersons in a report on Tuesday, August 4th. Weiss Ratings upgraded Andersons from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Finally, Texas Capital raised Andersons to a “strong-buy” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $95.00.

About Andersons

The Andersons, Inc operates as a diversified agriculture company offering a broad range of products and services to farmers, retailers and industrial customers. Through its Grain Group, the company purchases, stores, merchandises and transports corn, soybeans and other commodities, while its Renewables Group produces ethanol and distillers grains at multiple plants in the U.S. The Rail Group provides locomotive leasing, railcar repair and related maintenance services, and the Horticulture Group supplies turf, specialty and horticultural products to landscaping professionals and consumer lawn and garden retailers.

Founded in 1947 and headquartered in Maumee, Ohio, The Andersons has grown from a regional grain elevator operator into an integrated agribusiness platform.