State Board of Administration of Florida Retirement System Acquires 41,846 Shares of The Andersons, Inc. (NASDAQ:ANDE)

State Board of Administration of Florida Retirement System increased its holdings in The Andersons, Inc. (NASDAQ:ANDE) by 105.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,444 shares of the basic materials company’s stock after acquiring an additional 41,846 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.25% of The Andersons worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ANDE. Lazard Asset Management LLC bought a new position in shares of The Andersons in the 4th quarter worth about $27,000. Vantage Consulting Group Inc bought a new position in shares of The Andersons in the 4th quarter worth about $30,000. Citigroup Inc. increased its stake in shares of The Andersons by 201.1% in the 4th quarter. Citigroup Inc. now owns 7,932 shares of the basic materials company’s stock worth $194,000 after acquiring an additional 5,298 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in The Andersons during the 1st quarter valued at about $203,000. Finally, Commonwealth Equity Services LLC bought a new stake in The Andersons during the 1st quarter valued at about $205,000. Institutional investors own 75.28% of the company’s stock.

Shares of ANDE stock opened at $33.70 on Tuesday. The business has a 50 day moving average of $29.63. The Andersons, Inc. has a 52 week low of $12.27 and a 52 week high of $34.10. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 18.52 and a beta of 0.68. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 0.60.

The Andersons (NASDAQ:ANDE) last announced its quarterly earnings results on Monday, May 3rd. The basic materials company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.43. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.21 billion. The Andersons had a net margin of 0.67% and a return on equity of 5.35%. Sell-side analysts forecast that The Andersons, Inc. will post 1.58 EPS for the current year.

A number of analysts have weighed in on ANDE shares. Seaport Global Securities restated a “neutral” rating on shares of The Andersons in a research note on Thursday, February 25th. BMO Capital Markets raised their price objective on shares of The Andersons from $26.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, May 6th. Finally, Zacks Investment Research upgraded shares of The Andersons from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, May 5th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.50.

The Andersons Company Profile

The Andersons, Inc, an agriculture company, operates in trade, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Trade segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.

Further Reading: 52 Week Highs and Lows

Institutional Ownership by Quarter for The Andersons (NASDAQ:ANDE)

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