Illinois Municipal Retirement Fund Decreases Stake in The Andersons, Inc. (NASDAQ:ANDE)

Illinois Municipal Retirement Fund lowered its position in The Andersons, Inc. (NASDAQ:ANDE) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,724 shares of the basic materials company’s stock after selling 934 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Andersons were worth $718,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ANDE. Bank of New York Mellon Corp lifted its stake in Andersons by 14.2% in the fourth quarter. Bank of New York Mellon Corp now owns 353,271 shares of the basic materials company’s stock worth $14,315,000 after acquiring an additional 44,022 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Andersons in the fourth quarter worth approximately $728,000. Charles Schwab Investment Management Inc. lifted its stake in Andersons by 15.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,624 shares of the basic materials company’s stock worth $30,456,000 after acquiring an additional 99,045 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Andersons in the fourth quarter worth approximately $528,000. Finally, Amundi lifted its stake in Andersons by 38.8% in the fourth quarter. Amundi now owns 38,060 shares of the basic materials company’s stock worth $1,605,000 after acquiring an additional 10,643 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ANDE shares. BMO Capital Markets started coverage on shares of Andersons in a report on Tuesday, May 6th. They set a “market perform” rating and a $45.00 price objective on the stock. Wall Street Zen cut shares of Andersons from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Finally, Lake Street Capital cut their price objective on shares of Andersons from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Andersons Stock Up 2.0%

ANDE stock opened at $38.49 on Thursday. The company has a current ratio of 1.76, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The Andersons, Inc. has a twelve month low of $31.03 and a twelve month high of $55.52. The company’s 50 day moving average is $35.98 and its two-hundred day moving average is $39.57. The stock has a market cap of $1.32 billion, a P/E ratio of 12.14 and a beta of 0.75.

Andersons (NASDAQ:ANDE) last announced its earnings results on Tuesday, May 6th. The basic materials company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.20. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Andersons had a net margin of 0.97% and a return on equity of 7.35%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. Research analysts expect that The Andersons, Inc. will post 3.11 earnings per share for the current fiscal year.

Andersons Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 1st will be issued a $0.195 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.03%. Andersons’s payout ratio is 24.61%.

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.