Baird Financial Group Inc. raised its stake in Archer Daniels Midland Co (NYSE:ADM) by 4.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 73,450 shares of the company’s stock after purchasing an additional 3,218 shares during the quarter. Baird Financial Group Inc.’s holdings in Archer Daniels Midland were worth $3,367,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in ADM. BlackRock Inc. lifted its position in Archer Daniels Midland by 8.7% in the second quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock valued at $2,106,235,000 after purchasing an additional 3,694,727 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Archer Daniels Midland by 9,164.5% in the first quarter. Point72 Asset Management L.P. now owns 3,020,241 shares of the company’s stock valued at $130,988,000 after purchasing an additional 2,987,641 shares during the last quarter. FMR LLC lifted its position in Archer Daniels Midland by 252.0% in the second quarter. FMR LLC now owns 1,126,191 shares of the company’s stock valued at $51,613,000 after purchasing an additional 806,287 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Archer Daniels Midland by 8.2% in the second quarter. Bank of New York Mellon Corp now owns 8,985,797 shares of the company’s stock valued at $411,820,000 after purchasing an additional 683,457 shares during the last quarter. Finally, Natixis bought a new stake in Archer Daniels Midland in the first quarter valued at approximately $28,649,000. Hedge funds and other institutional investors own 75.82% of the company’s stock.
Shares of Archer Daniels Midland stock opened at $50.00 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. The company has a market cap of $27.85 billion, a P/E ratio of 20.58 and a beta of 1.05. Archer Daniels Midland Co has a 52 week low of $38.59 and a 52 week high of $51.11.
Archer Daniels Midland (NYSE:ADM) last announced its earnings results on Tuesday, July 31st. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. The company had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $15.48 billion. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. equities analysts predict that Archer Daniels Midland Co will post 3.43 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Investors of record on Thursday, August 16th were issued a dividend of $0.335 per share. The ex-dividend date was Wednesday, August 15th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.68%. Archer Daniels Midland’s dividend payout ratio is presently 55.14%.
ADM has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded Archer Daniels Midland from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $42.00 to $48.00 in a research report on Monday, July 9th. Stephens restated an “overweight” rating on shares of Archer Daniels Midland in a report on Thursday, August 16th. Zacks Investment Research upgraded Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Wednesday, July 4th. Morgan Stanley upped their target price on Archer Daniels Midland from $33.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, August 3rd. Finally, BMO Capital Markets upped their target price on Archer Daniels Midland from $45.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, August 1st. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $47.62.
In other Archer Daniels Midland news, VP John P. Stott sold 1,294 shares of the stock in a transaction on Monday, July 9th. The stock was sold at an average price of $47.03, for a total value of $60,856.82. Following the completion of the transaction, the vice president now owns 40,922 shares in the company, valued at $1,924,561.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph D. Taets sold 2,153 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $51.00, for a total value of $109,803.00. Following the completion of the transaction, the insider now owns 169,213 shares of the company’s stock, valued at approximately $8,629,863. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,445 shares of company stock valued at $6,086,881. 2.70% of the stock is owned by corporate insiders.
Archer Daniels Midland Company Profile
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. It operates through four segments: Carbohydrate Solutions, Nutrition, Oilseeds, and Origination. The company offers oilseeds, corn, wheat, milo, oats, rice, and barley; and structured trade finance, as well as processes wheat into wheat flour.
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