Kentucky Retirement Systems Insurance Trust Fund Sells 9,435 Shares of Archer Daniels Midland Company (NYSE:ADM)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in Archer Daniels Midland Company (NYSE:ADM) by 40.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,866 shares of the company’s stock after selling 9,435 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Archer Daniels Midland were worth $666,000 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 company. Fairway Wealth LLC purchased a new stake in Archer Daniels Midland in the fourth quarter worth approximately $25,000. CoreFirst Bank & Trust purchased a new stake in Archer Daniels Midland in the fourth quarter worth approximately $30,000. ORG Partners LLC boosted its holdings in Archer Daniels Midland by 297.2% in the first quarter. ORG Partners LLC now owns 699 shares of the company’s stock worth $34,000 after purchasing an additional 523 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Archer Daniels Midland in the fourth quarter worth approximately $35,000. Finally, NBC Securities Inc. purchased a new stake in Archer Daniels Midland in the first quarter worth approximately $37,000. Institutional investors own 78.28% of the company’s stock.

Wall Street Analysts Forecast Growth

ADM has been the topic of several analyst reports. Citigroup dropped their price target on shares of Archer Daniels Midland from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Bank of America cut shares of Archer Daniels Midland from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $47.00 to $45.00 in a research note on Thursday, May 8th. Finally, UBS Group upgraded shares of Archer Daniels Midland from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $60.00 in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.00.

Archer Daniels Midland Price Performance

Shares of ADM opened at $52.96 on Wednesday. The company has a market cap of $25.44 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 2.94 and a beta of 0.67. Archer Daniels Midland Company has a twelve month low of $40.98 and a twelve month high of $66.08. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $49.16 and a two-hundred day moving average of $48.69.

Archer Daniels Midland (NYSE:ADM) last announced its earnings results on Tuesday, May 6th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $20.18 billion during the quarter, compared to the consensus estimate of $22.05 billion. Archer Daniels Midland had a net margin of 1.63% and a return on equity of 8.71%. Archer Daniels Midland’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. As a group, analysts predict that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 21st were issued a $0.51 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.85%. Archer Daniels Midland’s dividend payout ratio is currently 72.86%.

Archer Daniels Midland Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.