Victory Capital Management Inc. trimmed its holdings in Archer Daniels Midland Co (NYSE:ADM) by 15.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,383,950 shares of the company’s stock after selling 1,155,823 shares during the quarter. Archer Daniels Midland accounts for about 0.7% of Victory Capital Management Inc.’s portfolio, making the stock its 7th biggest holding. Victory Capital Management Inc. owned 1.14% of Archer Daniels Midland worth $261,550,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of ADM. Cedar Wealth Management LLC purchased a new stake in Archer Daniels Midland during the fourth quarter valued at about $25,000. Alpha Omega Wealth Management LLC purchased a new stake in Archer Daniels Midland during the fourth quarter valued at about $25,000. We Are One Seven LLC purchased a new stake in Archer Daniels Midland during the fourth quarter valued at about $27,000. Cordasco Financial Network lifted its stake in Archer Daniels Midland by 32.0% during the fourth quarter. Cordasco Financial Network now owns 1,056 shares of the company’s stock valued at $43,000 after buying an additional 256 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its stake in Archer Daniels Midland by 276.1% during the fourth quarter. Westside Investment Management Inc. now owns 1,226 shares of the company’s stock valued at $50,000 after buying an additional 900 shares in the last quarter. 77.80% of the stock is owned by institutional investors.
Shares of NYSE ADM traded up $0.20 during mid-day trading on Tuesday, reaching $42.21. The company had a trading volume of 41,269 shares, compared to its average volume of 3,629,476. The company has a debt-to-equity ratio of 0.44, a current ratio of 87.98 and a quick ratio of 0.94. The firm has a market capitalization of $23.60 billion, a price-to-earnings ratio of 12.08 and a beta of 0.98. Archer Daniels Midland Co has a 12-month low of $39.16 and a 12-month high of $52.06.
Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.04). The company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $16.83 billion. Archer Daniels Midland had a return on equity of 10.51% and a net margin of 2.81%. Archer Daniels Midland’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. On average, analysts predict that Archer Daniels Midland Co will post 3.54 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 19th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Archer Daniels Midland’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, February 15th. Archer Daniels Midland’s dividend payout ratio is 38.29%.
A number of research firms have commented on ADM. Zacks Investment Research raised shares of Archer Daniels Midland from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, January 8th. Argus raised shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Thursday, November 8th. Stifel Nicolaus raised shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $41.40 price objective for the company in a research note on Friday. Finally, Credit Suisse Group set a $46.00 price objective on shares of Archer Daniels Midland and gave the company a “neutral” rating in a research note on Wednesday, January 23rd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $49.67.
In related news, Director Donald E. Felsinger purchased 60,000 shares of Archer Daniels Midland stock in a transaction dated Thursday, February 7th. The stock was acquired at an average cost of $41.80 per share, with a total value of $2,508,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.94% of the stock is owned by corporate insiders.
About Archer Daniels Midland
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: Return on Equity (ROE)
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