State Board of Administration of Florida Retirement System Raises Stake in The Andersons, Inc. (NASDAQ:ANDE)

State Board of Administration of Florida Retirement System grew its stake in shares of The Andersons, Inc. (NASDAQ:ANDE) by 105.7% in the first quarter, Holdings Channel reports. The firm owned 81,444 shares of the basic materials company’s stock after acquiring an additional 41,846 shares during the period. State Board of Administration of Florida Retirement System’s holdings in The Andersons were worth $2,230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of The Andersons by 0.9% during the first quarter. Principal Financial Group Inc. now owns 223,030 shares of the basic materials company’s stock valued at $6,106,000 after purchasing an additional 2,026 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of The Andersons by 39.6% during the first quarter. Advisors Asset Management Inc. now owns 38,415 shares of the basic materials company’s stock valued at $1,052,000 after purchasing an additional 10,903 shares during the period. BlackRock Inc. boosted its stake in shares of The Andersons by 4.9% during the first quarter. BlackRock Inc. now owns 5,003,154 shares of the basic materials company’s stock valued at $136,985,000 after purchasing an additional 234,968 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of The Andersons by 72.5% during the first quarter. BNP Paribas Arbitrage SA now owns 17,257 shares of the basic materials company’s stock valued at $472,000 after purchasing an additional 7,255 shares during the period. Finally, Swiss National Bank lifted its stake in The Andersons by 1.3% in the first quarter. Swiss National Bank now owns 71,650 shares of the basic materials company’s stock worth $1,962,000 after acquiring an additional 900 shares during the period. 75.28% of the stock is owned by hedge funds and other institutional investors.

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

The Andersons (NASDAQ:ANDE) last released its quarterly earnings results on Monday, May 3rd. The basic materials company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.43. The business 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%. As a group, sell-side analysts expect that The Andersons, Inc. will post 1.58 EPS for the current year.

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

The Andersons 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: Dividend Yield

Want to see what other hedge funds are holding ANDE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Andersons, Inc. (NASDAQ:ANDE).

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

Receive News & Ratings for The Andersons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Andersons and related companies with MarketBeat.com's FREE daily email newsletter.