Keep Your Eyes on Stock News: The Andersons (NASDAQ:ANDE)

Keep Your Eyes on Stock News: The Andersons (NASDAQ:ANDE)

The Andersons (NASDAQ:ANDE) stock identified change of 83.00% away from 52-week low price and recently located move of -45.45% off 52-week high price. It has market worth of $713.33M and dividend yield of 3.83%. ANDE stock has been recorded -13.01% away from 50 day moving average and -21.48% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.78% off 20-day moving average.

On March 24, 2020, The Andersons (NASDAQ:ANDE) declared that it will idle its ELEMENTTM ethanol facility in Colwich, Kansas, in the coming days for an extended maintenance and repair period and will take spring maintenance shutdowns at the four facilities owned by The Andersons Marathon Holdings LLC (TAMH), a joint venture between The Andersons and Marathon Petroleum Corporation.

Our primary reason for taking these actions now is the accelerating decline in demand resulting from the coronavirus (COVID-19) pandemic. In the case of the ELEMENTTM plant, The Andersons and ICM will use the time to focus on the remaining steps needed to gain what we anticipate will be an industry-low carbon score, said Jim Pirolli, president of The Andersons Ethanol Group.

For the TAMH plants, we will extend the spring maintenance shutdowns, allowing us to practice social distancing and good hygiene to protect our employees and the essential contractors who are required for the shutdown. We continue to communicate regularly with all our employees about staying healthy and modifying work practices to reduce the spread of the COVID-19 virus, added Pirolli.

The company expects to produce ethanol and its coproducts at approximately 50 percent of capacity in April, with a return to more normal production when demand improves. It also anticipates bringing the ELEMENT plant back into production in the latter part of the second quarter. These expectations are subject to the lessening of the economic restrictions caused by the COVID-19 pandemic. The Consumer Goods sector company, The Andersons noticed change of 1.95% to $18.3 along volume of 286689 shares in recent session compared to an average volume of 193.19K shares. The stock observed return of -0.33% in 5 days trading activity. The stock was at -5.96% over one month performance. ANDE’s shares are at -28.68% for the quarter and driving a -44.31% return over the course of the past year and is now at -27.61% since this point in 2018.

The average volatility for the week at 15.98% and for month was at 13.17%. There are 38.98M shares outstanding and 32.00M shares are floated in market. Right now the stock beta is 0.98.

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