The Andersons, Inc. (NASDAQ:ANDE) Sees Significant Increase in Short Interest

The Andersons, Inc. (NASDAQ:ANDE) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 810,400 shares, a growth of 11.2% from the October 31st total of 728,600 shares. Based on an average trading volume of 170,700 shares, the short-interest ratio is currently 4.7 days. Currently, 2.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Andersons

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC raised its position in shares of Andersons by 375.0% in the 3rd quarter. Intech Investment Management LLC now owns 42,225 shares of the basic materials company’s stock worth $2,117,000 after acquiring an additional 33,336 shares in the last quarter. Renaissance Technologies LLC grew its stake in Andersons by 13.1% during the second quarter. Renaissance Technologies LLC now owns 159,576 shares of the basic materials company’s stock worth $7,915,000 after purchasing an additional 18,500 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in Andersons in the second quarter worth approximately $1,040,000. Victory Capital Management Inc. lifted its stake in Andersons by 7.0% in the third quarter. Victory Capital Management Inc. now owns 488,505 shares of the basic materials company’s stock valued at $24,494,000 after buying an additional 31,881 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Andersons by 5.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 207,913 shares of the basic materials company’s stock worth $10,312,000 after buying an additional 10,222 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

Andersons Stock Performance

Shares of ANDE stock opened at $47.74 on Monday. The business’s 50-day moving average price is $48.06 and its 200-day moving average price is $49.22. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 13.64 and a beta of 0.60. Andersons has a 12 month low of $41.76 and a 12 month high of $61.46. The company has a current ratio of 1.98, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was down 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Andersons from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

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.