Bank of America Corp DE trimmed its position in shares of Archer Daniels Midland Co (NYSE:ADM) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,904,600 shares of the company’s stock after selling 112,135 shares during the period. Bank of America Corp DE owned about 0.88% of Archer Daniels Midland worth $224,778,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Synovus Financial Corp purchased a new position in Archer Daniels Midland in the 1st quarter worth approximately $104,000. Stelac Advisory Services LLC purchased a new position in Archer Daniels Midland in the 1st quarter worth approximately $111,000. Signaturefd LLC purchased a new position in Archer Daniels Midland in the 1st quarter worth approximately $112,000. MUFG Americas Holdings Corp increased its stake in Archer Daniels Midland by 408.7% in the 2nd quarter. MUFG Americas Holdings Corp now owns 2,676 shares of the company’s stock worth $123,000 after purchasing an additional 2,150 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in Archer Daniels Midland by 71.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,778 shares of the company’s stock worth $127,000 after purchasing an additional 1,154 shares during the period. 75.82% of the stock is currently owned by institutional investors.
ADM opened at $50.00 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 1.59. Archer Daniels Midland Co has a 52-week low of $38.59 and a 52-week high of $51.11. The company has a market cap of $27.85 billion, a PE ratio of 20.58 and a beta of 1.05.
Archer Daniels Midland (NYSE:ADM) last posted its earnings results on Tuesday, July 31st. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.25. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. The firm had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $15.48 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. equities analysts anticipate that Archer Daniels Midland Co will post 3.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Thursday, August 16th were paid a dividend of $0.335 per share. The ex-dividend date was Wednesday, August 15th. This represents a $1.34 annualized dividend and a dividend yield of 2.68%. Archer Daniels Midland’s dividend payout ratio (DPR) is presently 55.14%.
In other news, SVP Joseph D. Taets sold 3,847 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $51.01, for a total transaction of $196,235.47. Following the transaction, the senior vice president now directly owns 171,366 shares of the company’s stock, valued at $8,741,379.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ambrose Michael D sold 100,151 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $48.34, for a total value of $4,841,299.34. Following the transaction, the senior vice president now directly owns 234,053 shares in the company, valued at $11,314,122.02. The disclosure for this sale can be found here. Insiders have sold 125,445 shares of company stock worth $6,086,881 over the last three months. Insiders own 2.70% of the company’s stock.
ADM has been the topic of a number of analyst reports. Zacks Investment Research raised Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, July 4th. Buckingham Research lifted their price target on Archer Daniels Midland from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Morgan Stanley lifted their price target on Archer Daniels Midland from $33.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, August 3rd. BMO Capital Markets lifted their price target on Archer Daniels Midland from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 1st. Finally, JPMorgan Chase & Co. raised Archer Daniels Midland from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $42.00 to $48.00 in a research note on Monday, July 9th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $47.62.
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.
Further Reading: Growth Stocks
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