Short Interest in The Andersons, Inc. (NASDAQ:ANDE) Grows By 11.2%

The Andersons, Inc. (NASDAQ:ANDE) saw 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 daily volume of 170,700 shares, the days-to-cover ratio is currently 4.7 days. Approximately 2.5% of the company’s stock are short sold.

Institutional Trading of Andersons

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in Andersons by 8.8% during the second quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock worth $185,390,000 after purchasing an additional 303,711 shares during the last quarter. State Street Corp boosted its holdings in shares of Andersons by 2.2% in the 3rd quarter. State Street Corp now owns 1,337,344 shares of the basic materials company’s stock worth $67,054,000 after buying an additional 28,773 shares during the last quarter. American Century Companies Inc. boosted its stake in 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 during the last quarter. Geode Capital Management LLC raised its stake in Andersons by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 785,139 shares of the basic materials company’s stock valued at $39,374,000 after acquiring an additional 14,634 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Andersons by 23.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 652,579 shares of the basic materials company’s stock valued at $32,720,000 after purchasing an additional 124,468 shares during the last quarter. 87.06% of the stock is owned by institutional investors.

Andersons Price Performance

Shares of ANDE opened at $47.74 on Monday. The business’s fifty day moving average is $48.06 and its 200 day moving average is $49.22. Andersons has a 12-month low of $41.76 and a 12-month 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 stock has a market cap of $1.63 billion, a P/E ratio of 13.64 and a beta of 0.60.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.37. Andersons had a net margin of 1.06% and a return on equity of 8.21%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue was down 27.9% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Andersons from a “hold” rating to a “buy” rating in a research note 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.