Louisiana State Employees Retirement System Purchases 2,000 Shares of The Andersons, Inc. (NASDAQ:ANDE)

Posted by Defense World Staff on Oct 10th, 2023

Louisiana State Employees Retirement System increased its position in The Andersons, Inc. (NASDAQ:ANDE – Free Report) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,500 shares of the basic materials company’s stock after buying an additional 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Andersons were worth $761,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Inspire Investing LLC boosted its holdings in Andersons by 109.3% in the 1st quarter. Inspire Investing LLC now owns 14,007 shares of the basic materials company’s stock worth $579,000 after buying an additional 7,314 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Andersons by 18.6% in the first quarter. SG Americas Securities LLC now owns 9,691 shares of the basic materials company’s stock worth $400,000 after buying an additional 1,523 shares in the last quarter. Summit Global Investments lifted its holdings in shares of Andersons by 14.7% in the first quarter. Summit Global Investments now owns 23,688 shares of the basic materials company’s stock worth $979,000 after buying an additional 3,030 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Andersons in the first quarter worth $1,016,000. Finally, Redmont Wealth Advisors LLC lifted its holdings in shares of Andersons by 15.0% in the first quarter. Redmont Wealth Advisors LLC now owns 15,028 shares of the basic materials company’s stock worth $621,000 after buying an additional 1,961 shares in the last quarter. Institutional investors own 85.16% of the company’s stock.

Andersons Trading Up 3.1 %

ANDE opened at $51.37 on Tuesday. The firm has a market cap of $1.73 billion, a P/E ratio of 20.63 and a beta of 0.74. The Andersons, Inc. has a 12 month low of $31.76 and a 12 month high of $53.45. The company has a current ratio of 1.82, a quick ratio of 1.11 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $51.09 and a 200 day moving average of $45.94.

Andersons (NASDAQ:ANDE – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.06 by $0.46. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.13 billion. Andersons had a return on equity of 7.79% and a net margin of 0.51%. The firm’s revenue was down 9.7% on a year-over-year basis. During the same quarter last year, the business posted $2.39 earnings per share. As a group, research analysts forecast that The Andersons, Inc. will post 3.12 EPS for the current year.

Andersons Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Monday, October 2nd will be given a $0.185 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.74 annualized dividend and a yield of 1.44%. Andersons’s dividend payout ratio is currently 29.72%.

Insider Buying and Selling

In other news, CEO Patrick E. Bowe sold 9,878 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $52.15, for a total value of $515,137.70. Following the completion of the sale, the chief executive officer now owns 132,291 shares in the company, valued at approximately $6,898,975.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Patrick E. Bowe sold 9,878 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $52.15, for a total value of $515,137.70. Following the completion of the sale, the chief executive officer now owns 132,291 shares in the company, valued at approximately $6,898,975.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Anderson sold 1,144 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $48.00, for a total transaction of $54,912.00. Following the completion of the sale, the director now owns 275,644 shares of the company’s stock, valued at approximately $13,230,912. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,153 shares of company stock worth $6,892,300. Corporate insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Andersons in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Lake Street Capital boosted their target price on shares of Andersons from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Stephens lifted their price objective on Andersons from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Finally, Roth Mkm lifted their price objective on Andersons from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd.

Get Our Latest Report on Andersons

Andersons Company Profile

(Free Report)

The Andersons, Inc operates in trade, renewables, and plant nutrient sectors in the United States and internationally. It operates through three segments: Trade, Renewables, and Plant Nutrient. 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, and corn oil.