US Bancorp DE cut its position in Archer Daniels Midland Co (NYSE:ADM) by 37.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 296,786 shares of the company’s stock after selling 176,806 shares during the quarter. US Bancorp DE’s holdings in Archer Daniels Midland were worth $12,800,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in ADM. Todd Asset Management LLC bought a new position in shares of Archer Daniels Midland in the first quarter worth about $14,202,000. Foster & Motley Inc. raised its stake in shares of Archer Daniels Midland by 25.2% in the first quarter. Foster & Motley Inc. now owns 76,328 shares of the company’s stock worth $3,292,000 after acquiring an additional 15,344 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of Archer Daniels Midland by 8.3% in the first quarter. TD Asset Management Inc. now owns 566,361 shares of the company’s stock worth $24,427,000 after acquiring an additional 43,620 shares during the last quarter. Forsta AP Fonden raised its stake in shares of Archer Daniels Midland by 10.6% in the first quarter. Forsta AP Fonden now owns 121,000 shares of the company’s stock worth $5,219,000 after acquiring an additional 11,600 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Archer Daniels Midland by 3.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,586,654 shares of the company’s stock worth $111,562,000 after acquiring an additional 85,203 shares during the last quarter. Hedge funds and other institutional investors own 75.76% of the company’s stock.
Shares of ADM traded down $0.05 on Friday, reaching $39.16. 3,369,034 shares of the company’s stock were exchanged, compared to its average volume of 3,620,639. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 0.85. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 11.19 and a beta of 0.96. Archer Daniels Midland Co has a 12 month low of $38.63 and a 12 month high of $52.06.
Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.16). The business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $16.19 billion. Archer Daniels Midland had a return on equity of 9.83% and a net margin of 2.57%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. As a group, analysts expect that Archer Daniels Midland Co will post 3.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, May 14th. Archer Daniels Midland’s dividend payout ratio (DPR) is 40.00%.
A number of equities analysts have weighed in on ADM shares. Stifel Nicolaus raised shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $41.40 target price for the company in a research note on Friday, February 8th. ValuEngine downgraded shares of Archer Daniels Midland from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Zacks Investment Research downgraded shares of Archer Daniels Midland from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. BMO Capital Markets raised shares of Archer Daniels Midland from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $51.00 in a research note on Monday, April 29th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $48.00 target price (down from $54.00) on shares of Archer Daniels Midland in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Archer Daniels Midland has a consensus rating of “Hold” and a consensus price target of $50.78.
In other Archer Daniels Midland news, CEO Juan R. Luciano purchased 23,657 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of $42.30 per share, with a total value of $1,000,691.10. Following the completion of the purchase, the chief executive officer now directly owns 569,152 shares in the company, valued at approximately $24,075,129.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ray G. Young purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $42.76 per share, with a total value of $256,560.00. The disclosure for this purchase can be found here. Insiders own 1.11% of the company’s stock.
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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. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
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