PNC Financial Services Group Inc. Sells 13,929 Shares of The Andersons, Inc. (NASDAQ:ANDE)

PNC Financial Services Group Inc. lowered its stake in shares of The Andersons, Inc. (NASDAQ:ANDE) by 83.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,847 shares of the basic materials company’s stock after selling 13,929 shares during the period. PNC Financial Services Group Inc.’s holdings in Andersons were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of Andersons during the 4th quarter worth approximately $41,000. Meeder Asset Management Inc. purchased a new stake in Andersons during the fourth quarter valued at $110,000. Mackenzie Financial Corp bought a new position in Andersons during the fourth quarter valued at $215,000. Quantedge Capital Pte Ltd purchased a new position in shares of Andersons in the 4th quarter worth $276,000. Finally, Oracle Alpha Inc. bought a new stake in shares of Andersons in the 4th quarter worth about $353,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Insider Buying and Selling

In other Andersons news, Director Michael J. Anderson sold 3,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $59.00, for a total value of $177,000.00. Following the transaction, the director now owns 209,968 shares of the company’s stock, valued at approximately $12,388,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Patrick E. Bowe sold 3,387 shares of Andersons stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $60.01, for a total transaction of $203,253.87. Following the completion of the sale, the chief executive officer now owns 85,159 shares of the company’s stock, valued at $5,110,391.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Anderson sold 3,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $59.00, for a total value of $177,000.00. Following the completion of the transaction, the director now directly owns 209,968 shares in the company, valued at approximately $12,388,112. The disclosure for this sale can be found here. 5.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Andersons from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Andersons Stock Down 0.6 %

NASDAQ ANDE opened at $48.61 on Thursday. The company has a quick ratio of 1.13, a current ratio of 2.04 and a debt-to-equity ratio of 0.38. The Andersons, Inc. has a 52 week low of $44.85 and a 52 week high of $61.46. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 13.73 and a beta of 0.61. The company has a fifty day moving average of $51.58 and a two-hundred day moving average of $53.75.

Andersons (NASDAQ:ANDE) last released its quarterly earnings results on Tuesday, May 7th. The basic materials company reported $0.16 EPS for the quarter. Andersons had a net margin of 0.89% and a return on equity of 7.93%. The firm had revenue of $2.72 billion during the quarter. On average, analysts predict that The Andersons, Inc. will post 2.65 earnings per share for the current year.

Andersons Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 1st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. Andersons’s payout ratio is 21.47%.

Andersons Profile

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.