Andersons (NASDAQ:ANDE) Price Target Raised to $50.00 at BMO Capital Markets

Andersons (NASDAQ:ANDE) had its price objective increased by BMO Capital Markets from $45.00 to $50.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the basic materials company’s stock.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Andersons in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

Andersons Stock Up 2.9%

Andersons stock traded up $1.43 during midday trading on Thursday, hitting $50.38. The stock had a trading volume of 559,131 shares, compared to its average volume of 338,393. The business has a fifty day moving average price of $42.67 and a 200 day moving average price of $38.84. Andersons has a 12 month low of $31.03 and a 12 month high of $51.58. The stock has a market cap of $1.72 billion, a P/E ratio of 21.44 and a beta of 0.76. The company has a current ratio of 2.01, a quick ratio of 1.30 and a debt-to-equity ratio of 0.36.

Andersons (NASDAQ:ANDE) last released its earnings results on Tuesday, November 4th. The basic materials company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.38. Andersons had a return on equity of 5.28% and a net margin of 0.70%.The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the business posted $0.80 EPS. Andersons’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts predict that Andersons will post 3.11 EPS for the current year.

Andersons Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st were given a $0.195 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.78 annualized dividend and a yield of 1.5%. Andersons’s dividend payout ratio is 33.19%.

Institutional Trading of Andersons

Hedge funds have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board boosted its position in Andersons by 20.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 132,511 shares of the basic materials company’s stock worth $5,275,000 after acquiring an additional 22,579 shares during the period. Rhumbline Advisers raised its stake in shares of Andersons by 16.9% during the third quarter. Rhumbline Advisers now owns 115,588 shares of the basic materials company’s stock valued at $4,602,000 after purchasing an additional 16,692 shares in the last quarter. Optimize Financial Inc acquired a new stake in Andersons in the third quarter worth about $575,000. Principal Financial Group Inc. grew its position in Andersons by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 163,903 shares of the basic materials company’s stock valued at $6,525,000 after buying an additional 3,974 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Andersons by 3.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 24,505 shares of the basic materials company’s stock valued at $971,000 after buying an additional 793 shares during the period. Institutional investors own 87.06% of the company’s stock.

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.