Morgan Stanley Boosts Stake in Andersons Inc (ANDE)

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Morgan Stanley grew its position in Andersons Inc (NASDAQ:ANDE) by 72.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,804 shares of the basic materials company’s stock after acquiring an additional 67,288 shares during the period. Morgan Stanley owned about 0.57% of Andersons worth $6,055,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ANDE. Walthausen & Co. LLC purchased a new stake in Andersons during the 3rd quarter valued at about $15,169,000. BlackRock Inc. raised its position in Andersons by 2.9% during the third quarter. BlackRock Inc. now owns 3,802,979 shares of the basic materials company’s stock worth $143,182,000 after acquiring an additional 108,841 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Andersons during the third quarter worth about $820,000. Bank of New York Mellon Corp grew its holdings in Andersons by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 468,732 shares of the basic materials company’s stock valued at $17,648,000 after purchasing an additional 11,458 shares during the period. Finally, First Trust Advisors LP lifted its position in Andersons by 18.1% during the third quarter. First Trust Advisors LP now owns 69,396 shares of the basic materials company’s stock valued at $2,613,000 after buying an additional 10,631 shares in the last quarter. 80.18% of the stock is owned by institutional investors and hedge funds.

In other Andersons news, insider Michael S. Irmen sold 5,564 shares of Andersons stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $33.45, for a total transaction of $186,115.80. Following the completion of the transaction, the insider now owns 6,453 shares in the company, valued at $215,852.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

NASDAQ:ANDE opened at $37.08 on Thursday. Andersons Inc has a one year low of $27.62 and a one year high of $41.70. The company has a quick ratio of 0.40, a current ratio of 1.23 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.04 billion, a PE ratio of 22.75 and a beta of 1.20.

Andersons (NASDAQ:ANDE) last announced its quarterly earnings data on Wednesday, February 13th. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.16. The business had revenue of $812.66 million during the quarter, compared to the consensus estimate of $1.08 billion. Andersons had a net margin of 1.36% and a return on equity of 4.99%. The firm’s quarterly revenue was down 19.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 2nd were issued a $0.17 dividend. This is a positive change from Andersons’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, December 31st. Andersons’s dividend payout ratio is currently 41.72%.

A number of analysts have commented on ANDE shares. TheStreet raised shares of Andersons from a “c” rating to a “b” rating in a research note on Thursday, February 14th. BidaskClub upgraded Andersons from a “hold” rating to a “buy” rating in a report on Monday, January 7th. ValuEngine raised Andersons from a “hold” rating to a “buy” rating in a report on Tuesday, October 30th. Finally, Zacks Investment Research raised Andersons from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $41.33.

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About Andersons

The Andersons, Inc, an agriculture company, operates in the grain, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Grain segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.

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Institutional Ownership by Quarter for Andersons (NASDAQ:ANDE)

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