Great Lakes Advisors LLC bought a new stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 82,344 shares of the company’s stock, valued at approximately $4,990,000.
Other large investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Archer-Daniels-Midland by 11.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,500 shares of the company’s stock valued at $2,272,000 after buying an additional 3,749 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Archer-Daniels-Midland by 152.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 130,449 shares of the company’s stock valued at $7,436,000 after purchasing an additional 78,724 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Archer-Daniels-Midland by 162.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 422,551 shares of the company’s stock valued at $24,085,000 after purchasing an additional 261,251 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in Archer-Daniels-Midland by 1.6% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 40,140 shares of the company’s stock valued at $2,288,000 after purchasing an additional 635 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in Archer-Daniels-Midland in the 2nd quarter valued at $478,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.
A number of research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Archer-Daniels-Midland in a report on Wednesday, July 21st. They issued a “hold” rating and a $55.00 price objective on the stock. Zacks Investment Research lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a report on Wednesday, August 11th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $65.27.
Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings data on Monday, July 26th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.30. The firm had revenue of $22.93 billion during the quarter, compared to the consensus estimate of $18.30 billion. Archer-Daniels-Midland had a return on equity of 13.30% and a net margin of 3.09%. The company’s quarterly revenue was up 40.8% on a year-over-year basis. During the same period last year, the company earned $0.85 EPS. As a group, equities research analysts predict that Archer-Daniels-Midland Company will post 4.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Wednesday, August 18th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Tuesday, August 17th. Archer-Daniels-Midland’s payout ratio is 41.23%.
In other news, CEO Juan R. Luciano bought 16,790 shares of the company’s stock in a transaction on Thursday, July 29th. The stock was bought at an average cost of $59.54 per share, with a total value of $999,676.60. Following the transaction, the chief executive officer now directly owns 483,994 shares in the company, valued at approximately $28,817,002.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.
Archer-Daniels-Midland Company Profile
Archer-Daniels-Midland Co processes oilseeds, corn, wheat, cocoa and other agricultural commodities. The company operates through the following segments: Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition. The Ag Services and Oilseeds segment includes activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds, such as cottonseed, sunflower seed, canola, rapeseed, and flaxseed into vegetable oils and protein meals.
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