Private Management Group Inc. Sells 351,848 Shares of The Andersons, Inc. (NASDAQ:ANDE)

Private Management Group Inc. lessened its holdings in The Andersons, Inc. (NASDAQ:ANDE) by 54.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 296,221 shares of the basic materials company’s stock after selling 351,848 shares during the quarter. Private Management Group Inc.’s holdings in Andersons were worth $17,045,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANDE. C M Bidwell & Associates Ltd. acquired a new stake in shares of Andersons in the 3rd quarter valued at approximately $33,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Andersons during the 3rd quarter worth approximately $107,000. Meeder Asset Management Inc. bought a new stake in Andersons during the 4th quarter worth approximately $110,000. Mackenzie Financial Corp bought a new stake in Andersons during the 4th quarter worth approximately $215,000. Finally, Nomura Holdings Inc. bought a new stake in Andersons during the 3rd quarter worth approximately $216,000. Institutional investors own 87.06% of the company’s stock.

Insider Activity at Andersons

In other Andersons news, CEO Patrick E. Bowe sold 34,597 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $55.46, for a total transaction of $1,918,749.62. Following the completion of the sale, the chief executive officer now owns 83,515 shares of the company’s stock, valued at approximately $4,631,741.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Andersons news, CEO Patrick E. Bowe sold 34,597 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $55.46, for a total transaction of $1,918,749.62. Following the completion of the sale, the chief executive officer now owns 83,515 shares of the company’s stock, valued at approximately $4,631,741.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick E. Bowe sold 1,338 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $55.12, for a total value of $73,750.56. Following the sale, the chief executive officer now directly owns 89,315 shares of the company’s stock, valued at approximately $4,923,042.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,858 shares of company stock valued at $2,153,845. 5.10% of the stock is owned by corporate insiders.

Andersons Stock Up 2.5 %

Shares of NASDAQ:ANDE traded up $1.46 during midday trading on Tuesday, hitting $60.41. The stock had a trading volume of 297,761 shares, compared to its average volume of 184,278. The Andersons, Inc. has a 12 month low of $35.69 and a 12 month high of $61.46. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $55.61 and its 200-day simple moving average is $53.57. The company has a market cap of $2.06 billion, a P/E ratio of 20.55 and a beta of 0.68.

Andersons (NASDAQ:ANDE) last released its earnings results on Wednesday, February 21st. The basic materials company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.48. Andersons had a net margin of 0.69% and a return on equity of 8.19%. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the business earned $0.98 earnings per share. The firm’s revenue was down 31.3% on a year-over-year basis. On average, sell-side analysts forecast that The Andersons, Inc. will post 2.54 earnings per share for the current fiscal year.

Andersons Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.76 annualized dividend and a dividend yield of 1.26%. Andersons’s dividend payout ratio is presently 25.85%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com raised Andersons from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Roth Capital reaffirmed a “buy” rating and set a $65.00 price target on shares of Andersons in a research note on Tuesday, February 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $62.50.

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.