Comerica Bank Acquires 23,865 Shares of The Andersons, Inc. (NASDAQ:ANDE)

Comerica Bank boosted its holdings in shares of The Andersons, Inc. (NASDAQ:ANDE) by 203.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,609 shares of the basic materials company’s stock after buying an additional 23,865 shares during the quarter. Comerica Bank’s holdings in Andersons were worth $1,443,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in Andersons by 15.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,624 shares of the basic materials company’s stock valued at $30,456,000 after purchasing an additional 99,045 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Andersons by 221.3% during the fourth quarter. Intech Investment Management LLC now owns 135,678 shares of the basic materials company’s stock valued at $5,498,000 after purchasing an additional 93,453 shares in the last quarter. American Century Companies Inc. lifted its holdings in Andersons by 7.8% during the fourth quarter. American Century Companies Inc. now owns 1,166,781 shares of the basic materials company’s stock valued at $47,278,000 after purchasing an additional 84,133 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Andersons by 150.2% during the fourth quarter. Wellington Management Group LLP now owns 139,626 shares of the basic materials company’s stock valued at $5,658,000 after purchasing an additional 83,817 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Andersons during the fourth quarter valued at approximately $2,744,000. 87.06% of the stock is currently owned by institutional investors.

Insider Activity at Andersons

In related news, VP Weston Heide sold 800 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $48.00, for a total transaction of $38,400.00. Following the sale, the vice president now owns 16,104 shares of the company’s stock, valued at $772,992. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ANDE. BMO Capital Markets started coverage on shares of Andersons in a report on Tuesday, May 6th. They set a “market perform” rating and a $45.00 price target on the stock. Lake Street Capital dropped their target price on shares of Andersons from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday. Stephens restated an “overweight” rating and set a $55.00 target price on shares of Andersons in a research report on Wednesday, February 19th. Finally, StockNews.com upgraded shares of Andersons from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th.

Andersons Price Performance

Andersons stock opened at $34.65 on Monday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 10.44 and a beta of 0.73. The firm’s fifty day moving average is $39.67 and its 200 day moving average is $42.45. The company has a quick ratio of 0.90, a current ratio of 1.65 and a debt-to-equity ratio of 0.38. The Andersons, Inc. has a 52-week low of $31.03 and a 52-week high of $55.52.

Andersons (NASDAQ:ANDE) last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.20. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.85 billion. Andersons had a net margin of 1.01% and a return on equity of 7.59%. Andersons’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Sell-side analysts forecast that The Andersons, Inc. will post 3.11 EPS for the current fiscal year.

Andersons Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 1st were paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, April 1st. Andersons’s payout ratio is 24.61%.

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.