EP Wealth Advisors LLC Purchases New Stake in The Andersons, Inc. (NASDAQ:ANDE)

EP Wealth Advisors LLC acquired a new stake in shares of The Andersons, Inc. (NASDAQ:ANDE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,044 shares of the basic materials company’s stock, valued at approximately $253,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Summit Global Investments boosted its holdings in Andersons by 9.5% in the second quarter. Summit Global Investments now owns 9,248 shares of the basic materials company’s stock worth $459,000 after purchasing an additional 799 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Andersons by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 16,116 shares of the basic materials company’s stock worth $799,000 after acquiring an additional 289 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Andersons by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the basic materials company’s stock worth $794,000 after acquiring an additional 400 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Andersons by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 336,714 shares of the basic materials company’s stock valued at $16,701,000 after acquiring an additional 5,983 shares during the period. Finally, Bailard Inc. raised its position in shares of Andersons by 9.2% during the 2nd quarter. Bailard Inc. now owns 13,100 shares of the basic materials company’s stock worth $650,000 after purchasing an additional 1,100 shares during the period. 87.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on ANDE. Stephens upgraded Andersons to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com raised shares of Andersons from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

Andersons Price Performance

NASDAQ ANDE opened at $44.99 on Friday. The company has a 50-day moving average price of $47.41 and a two-hundred day moving average price of $48.87. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 12.85 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. The Andersons, Inc. has a 52 week low of $41.76 and a 52 week high of $61.46.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.37. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.90 billion. Andersons had a return on equity of 8.21% and a net margin of 1.06%. The business’s revenue for the quarter was down 27.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. Analysts forecast that The Andersons, Inc. will post 2.9 EPS for the current year.

Insider Activity

In other news, insider Joseph E. Mcneely sold 2,382 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $47.73, for a total value of $113,692.86. Following the completion of the transaction, the insider now directly owns 49,601 shares in the company, valued at $2,367,455.73. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.10% 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.