Redmont Wealth Advisors LLC Has $895,000 Stock Position in The Andersons, Inc. (NASDAQ:ANDE)

Redmont Wealth Advisors LLC raised its position in The Andersons, Inc. (NASDAQ:ANDE) by 34.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,558 shares of the basic materials company’s stock after buying an additional 3,952 shares during the period. Andersons accounts for about 1.3% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Redmont Wealth Advisors LLC’s holdings in Andersons were worth $895,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Andersons by 29.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,407 shares of the basic materials company’s stock worth $426,000 after purchasing an additional 1,707 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Andersons during the 4th quarter worth about $215,000. Cornercap Investment Counsel Inc. grew its holdings in Andersons by 1.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 13,790 shares of the basic materials company’s stock worth $793,000 after acquiring an additional 222 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Andersons in the 4th quarter valued at about $915,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Andersons by 111.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 88,336 shares of the basic materials company’s stock worth $5,083,000 after acquiring an additional 46,587 shares during the last quarter. 87.06% of the stock is owned by institutional investors.

Andersons Trading Up 2.4 %

Shares of NASDAQ:ANDE traded up $1.35 during midday trading on Friday, hitting $57.75. The company had a trading volume of 63,400 shares, compared to its average volume of 180,537. The company has a current ratio of 1.72, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The Andersons, Inc. has a 12 month low of $35.69 and a 12 month high of $58.84. The firm has a fifty day simple moving average of $55.22 and a 200 day simple moving average of $53.34. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 19.40 and a beta of 0.68.

Andersons (NASDAQ:ANDE) last issued its earnings results on Wednesday, February 21st. The basic materials company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.48. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Andersons had a return on equity of 8.19% and a net margin of 0.69%. The company’s revenue was down 31.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. On average, analysts predict that The Andersons, Inc. will post 2.54 EPS for the current year.

Andersons Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 1st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.76 annualized dividend and a dividend yield of 1.32%. Andersons’s dividend payout ratio (DPR) is currently 25.85%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Andersons from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Roth Capital restated a “buy” rating and set a $65.00 target price on shares of Andersons in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Andersons presently has an average rating of “Buy” and an average target price of $62.50.

Insider Transactions at Andersons

In other Andersons news, CEO Patrick E. Bowe sold 2,623 shares of Andersons stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $55.22, for a total value of $144,842.06. Following the transaction, the chief executive officer now owns 90,653 shares of the company’s stock, valued at $5,005,858.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Patrick E. Bowe sold 1,338 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $55.12, for a total transaction of $73,750.56. Following the completion of the transaction, the chief executive officer now directly owns 89,315 shares of the company’s stock, valued at approximately $4,923,042.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick E. Bowe sold 2,623 shares of Andersons stock in a transaction on Friday, March 8th. The shares were sold at an average price of $55.22, for a total transaction of $144,842.06. Following the completion of the sale, the chief executive officer now owns 90,653 shares in the company, valued at $5,005,858.66. The disclosure for this sale can be found here. Insiders have sold a total of 38,858 shares of company stock valued at $2,153,845 over the last 90 days. 5.10% of the stock is owned by company insiders.

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.