The Andersons, Inc. (NASDAQ:ANDE) Short Interest Down 18.0% in October

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

Andersons Trading Up 2.6 %

ANDE opened at $48.27 on Friday. Andersons has a 52 week low of $41.76 and a 52 week high of $61.46. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $48.05 and a 200-day simple moving average of $49.66. The firm has a market cap of $1.64 billion, a P/E ratio of 13.79 and a beta of 0.60.

Andersons (NASDAQ:ANDE) last announced 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. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Andersons had a return on equity of 8.21% and a net margin of 1.06%. Andersons’s revenue for the quarter was down 27.9% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Andersons from a “hold” rating to a “buy” rating in a report on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ANDE. Pacer Advisors Inc. lifted its holdings in Andersons by 8.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock worth $185,390,000 after buying an additional 303,711 shares in the last quarter. State Street Corp increased its position in shares of Andersons by 2.2% during the third quarter. State Street Corp now owns 1,337,344 shares of the basic materials company’s stock worth $67,054,000 after acquiring an additional 28,773 shares during the period. American Century Companies Inc. raised its stake in shares of Andersons by 16.8% in the second quarter. American Century Companies Inc. now owns 933,968 shares of the basic materials company’s stock valued at $46,325,000 after acquiring an additional 134,126 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Andersons by 1.9% in the third quarter. Geode Capital Management LLC now owns 785,139 shares of the basic materials company’s stock valued at $39,374,000 after purchasing an additional 14,634 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Andersons by 23.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,579 shares of the basic materials company’s stock worth $32,720,000 after purchasing an additional 124,468 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

Andersons Company 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.