Andersons taking full advantage of the red hot ethanol sector
Press Release: The Andersons, Inc. (Nasdaq: ANDE) announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 2.28 million shares of its common stock, of which 2 million shares are proposed to be sold by the Company.
The company hopes to raise up to $100 million via the offering to build more ethanol plants and rail cars. The former Jim Cramer pick has seen an incredible run-up in its stock and recently even did a stock split. Although, the ethanol sector has traced back from its incredible highs its still a sector to keep an eye on. There is even some rumblings about consolidation in the industry. It would be interesting to see buyouts in the sector and who the potential buyers will be.
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