Geode Capital Management LLC Grows Stake in The Andersons, Inc. (NASDAQ:ANDE)

Geode Capital Management LLC raised its holdings in shares of The Andersons, Inc. (NASDAQ:ANDE - Free Report) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 785,139 shares of the basic materials company's stock after purchasing an additional 14,634 shares during the period. Geode Capital Management LLC owned 2.30% of Andersons worth $39,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of Andersons during the second quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in shares of Andersons during the second quarter valued at about $57,000. Truvestments Capital LLC bought a new position in Andersons in the third quarter worth about $98,000. EverSource Wealth Advisors LLC boosted its position in Andersons by 92.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,087 shares of the basic materials company's stock valued at $114,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in shares of Andersons during the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 87.06% of the company's stock.

Insider Buying and Selling

In other news, insider Joseph E. Mcneely sold 2,382 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $47.73, for a total transaction of $113,692.86. Following the sale, the insider now owns 49,601 shares of the company's stock, valued at $2,367,455.73. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.10% of the stock is owned by company insiders.

Andersons Stock Up 0.7 %

ANDE traded up $0.29 during midday trading on Wednesday, reaching $40.42. The company's stock had a trading volume of 108,511 shares, compared to its average volume of 199,374. The Andersons, Inc. has a 1 year low of $39.25 and a 1 year high of $61.46. The stock's 50-day moving average is $46.13 and its 200-day moving average is $48.29. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 11.55 and a beta of 0.57. The company has a current ratio of 1.98, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36.

Andersons (NASDAQ:ANDE - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.37. Andersons had a return on equity of 8.21% and a net margin of 1.06%. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the company earned $0.13 EPS. The firm's revenue for the quarter was down 27.9% on a year-over-year basis. As a group, research analysts expect that The Andersons, Inc. will post 2.9 EPS for the current year.

Andersons Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 2nd will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, January 2nd. This is an increase from Andersons's previous quarterly dividend of $0.19. Andersons's dividend payout ratio is currently 22.29%.

Analysts Set New Price Targets

ANDE has been the topic of several research reports. StockNews.com upgraded Andersons from a "hold" rating to a "buy" rating in a research report on Wednesday, November 13th. Stephens raised Andersons to a "strong-buy" rating in a research report on Monday, December 2nd.

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.