The Andersons, Inc. (NASDAQ:ANDE) Sees Large Drop in Short Interest

The Andersons, Inc. (NASDAQ:ANDE) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 728,600 shares, a decline of 18.0% from the October 15th total of 888,300 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average daily volume of 150,300 shares, the days-to-cover ratio is currently 4.8 days.

Andersons Price Performance

ANDE stock opened at $48.27 on Friday. The stock has a market cap of $1.64 billion, a PE ratio of 13.79 and a beta of 0.60. Andersons has a 12 month low of $41.76 and a 12 month high of $61.46. The company has a 50-day moving average price of $48.05 and a 200 day moving average price of $49.70. The company has a current ratio of 1.98, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36.

Andersons (NASDAQ:ANDE) last released its 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 return on equity of 8.21% and a net margin of 1.06%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was down 27.9% on a year-over-year basis.

Institutional Trading of Andersons

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Andersons by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 785,139 shares of the basic materials company’s stock valued at $39,374,000 after buying an additional 14,634 shares in the last quarter. Vestcor Inc raised its stake in shares of Andersons by 413.7% during the third quarter. Vestcor Inc now owns 13,038 shares of the basic materials company’s stock valued at $654,000 after acquiring an additional 10,500 shares in the last quarter. Barclays PLC boosted its holdings in shares of Andersons by 347.7% in the third quarter. Barclays PLC now owns 54,358 shares of the basic materials company’s stock valued at $2,725,000 after purchasing an additional 42,217 shares during the period. EP Wealth Advisors LLC bought a new position in Andersons in the third quarter worth approximately $253,000. Finally, Wellington Management Group LLP purchased a new position in Andersons during the 3rd quarter worth $2,798,000. 87.06% of the stock is currently 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 report on Wednesday.

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.