In a recent transaction, Patrick E. Bowe, the President and CEO of Andersons, Inc. (NASDAQ:ANDE), sold a total of 2,107 shares of the company's stock. The sales occurred on two separate dates, with 1,338 shares sold at $55.12 each on March 19, and 769 shares at $55.69 each on March 20, amounting to a combined total of over $116,576.
The transactions were reported in a Form 4 filing with the Securities and Exchange Commission (SEC). Following these sales, Bowe retains ownership of 88,545.7424 shares of Andersons, Inc., according to the SEC filing. The sales took place as part of prearranged trading plans and were executed through a power of attorney granted to Melissa Trippel, among others, as detailed in the accompanying Exhibit 24 of the SEC filing.
Andersons, Inc. is a diversified company rooted in agriculture that conducts business across North America in the grain, ethanol, plant nutrient, and rail sectors. The company's shares are publicly traded on the NASDAQ under the ticker symbol ANDE.
The reported stock sales by the CEO are a routine disclosure required by the SEC, providing transparency into the trading activities of the company's executives. These filings are publicly available and offer investors insight into the buying and selling patterns of company insiders.
InvestingPro Insights
In light of the recent stock sales by Andersons, Inc. CEO Patrick E. Bowe, investors may be curious about the company's current financial health and performance metrics. According to InvestingPro data, Andersons, Inc. (NASDAQ:ANDE) boasts a market capitalization of approximately $1.91 billion and has experienced a revenue growth of -14.86% over the last twelve months as of Q4 2023. Despite this decline in revenue, the company's gross profit margin stands at 5.05%, indicating its ability to maintain profitability in challenging conditions.
InvestingPro Tips highlight several key aspects of Andersons, Inc. that are particularly noteworthy for investors. The company has a long-standing history of shareholder returns, having raised its dividend for 28 consecutive years. This is a testament to the company's commitment to providing consistent value to its shareholders. Additionally, Andersons, Inc. has maintained dividend payments for 29 consecutive years, further emphasizing its reliability in rewarding investors.
While analysts anticipate a sales decline in the current year, the company has been profitable over the last twelve months. This profitability, combined with a P/E ratio (adjusted for the last twelve months as of Q4 2023) of 14.02, suggests that the company is trading at a lower revenue valuation multiple compared to some of its peers, which could present an attractive opportunity for value investors.
For those interested in a deeper dive into Andersons, Inc.'s financial metrics and strategic positioning, InvestingPro offers additional insights and tips. By visiting https://www.investing.com/pro/ANDE, investors can access a comprehensive analysis of the company's performance. For a limited time, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 9 additional InvestingPro Tips available that can provide further guidance on the investment potential of Andersons, Inc.
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