Short Interest in The Andersons, Inc. (NASDAQ:ANDE) Expands By 11.2%

The Andersons, Inc. (NASDAQ:ANDE) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 810,400 shares, a growth of 11.2% from the October 31st total of 728,600 shares. Based on an average daily trading volume, of 170,700 shares, the days-to-cover ratio is currently 4.7 days. Currently, 2.5% of the company’s stock are sold short.

Insiders Place Their Bets

In related news, insider Joseph E. Mcneely sold 2,382 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $47.73, for a total value of $113,692.86. Following the completion of the sale, the insider now directly owns 49,601 shares in the company, valued at approximately $2,367,455.73. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Andersons

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. grew its holdings in Andersons by 8.8% during the second quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock valued at $185,390,000 after purchasing an additional 303,711 shares during the period. American Century Companies Inc. lifted its stake in Andersons by 16.8% in the second quarter. American Century Companies Inc. now owns 933,968 shares of the basic materials company’s stock valued at $46,325,000 after buying an additional 134,126 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Andersons by 23.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 652,579 shares of the basic materials company’s stock valued at $32,720,000 after buying an additional 124,468 shares during the period. Wellington Management Group LLP bought a new stake in shares of Andersons during the third quarter worth $2,798,000. Finally, Squarepoint Ops LLC bought a new stake in Andersons in the 2nd quarter valued at $2,311,000. 87.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Andersons from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

Andersons Price Performance

NASDAQ:ANDE opened at $48.35 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.23 and a current ratio of 1.98. The company has a 50-day moving average of $48.06 and a 200-day moving average of $49.20. Andersons has a 52 week low of $41.76 and a 52 week high of $61.46. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.81 and a beta of 0.60.

Andersons (NASDAQ:ANDE) last released its quarterly earnings results on Monday, November 4th. The basic materials company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.37. Andersons had a net margin of 1.06% and a return on equity of 8.21%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was down 27.9% compared to the same quarter last year.

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.