Andersons Inc (NASDAQ:ANDE) announced a quarterly dividend on Friday, June 26th, Wall Street Journal reports. Stockholders of record on Monday, July 6th will be given a dividend of 0.175 per share by the basic materials company on Wednesday, July 22nd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date is Thursday, July 2nd.
Andersons has increased its dividend by an average of 878.6% annually over the last three years and has increased its dividend every year for the last 5 years. Andersons has a dividend payout ratio of -65.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Andersons to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 59.8%.
ANDE opened at $13.55 on Tuesday. The stock’s 50 day simple moving average is $13.30 and its 200-day simple moving average is $18.71. Andersons has a 1 year low of $10.00 and a 1 year high of $28.82. The stock has a market cap of $428.36 million, a PE ratio of -75.28 and a beta of 0.76. The company has a current ratio of 1.32, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93.
In other news, insider James J. Pirolli purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were acquired at an average price of $14.39 per share, with a total value of $143,900.00. Following the completion of the purchase, the insider now directly owns 22,388 shares of the company’s stock, valued at approximately $322,163.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen F. Dowdle purchased 4,500 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were purchased at an average cost of $14.39 per share, for a total transaction of $64,755.00. Following the purchase, the director now directly owns 21,065 shares of the company’s stock, valued at $303,125.35. The disclosure for this purchase can be found here. Insiders have bought 42,013 shares of company stock worth $549,662 in the last ninety days. 7.10% of the stock is currently owned by insiders.
A number of brokerages have weighed in on ANDE. Zacks Investment Research cut Andersons from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. TheStreet cut Andersons from a “c” rating to a “d+” rating in a research report on Tuesday, May 5th. Finally, BidaskClub lowered Andersons from a “sell” rating to a “strong sell” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.67.
Andersons Company Profile
The Andersons, Inc, an agriculture company, operates in the grain, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Grain segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.
Further Reading: What is the accumulation/distribution indicator?
Receive News & Ratings for Andersons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Andersons and related companies with MarketBeat.com's FREE daily email newsletter.