OLD National Bancorp IN Trims Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

OLD National Bancorp IN trimmed its position in Archer-Daniels-Midland Company (NYSE:ADM) by 6.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,441 shares of the company’s stock after selling 1,676 shares during the period. OLD National Bancorp IN’s holdings in Archer-Daniels-Midland were worth $1,693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its stake in Archer-Daniels-Midland by 30.1% in the fourth quarter. Handelsbanken Fonder AB now owns 103,980 shares of the company’s stock worth $7,509,000 after purchasing an additional 24,070 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Archer-Daniels-Midland by 0.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,724 shares of the company’s stock worth $3,663,000 after purchasing an additional 421 shares during the period. Signaturefd LLC grew its stake in Archer-Daniels-Midland by 1.0% in the fourth quarter. Signaturefd LLC now owns 18,051 shares of the company’s stock worth $1,304,000 after purchasing an additional 183 shares during the period. Nicholas Hoffman & Company LLC. grew its stake in Archer-Daniels-Midland by 8.0% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 3,554 shares of the company’s stock worth $257,000 after purchasing an additional 262 shares during the period. Finally, Lindbrook Capital LLC grew its stake in Archer-Daniels-Midland by 58.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,193 shares of the company’s stock worth $158,000 after purchasing an additional 807 shares during the period. 78.28% of the stock is owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Stock Down 0.2 %

ADM stock opened at $62.50 on Tuesday. Archer-Daniels-Midland Company has a fifty-two week low of $50.72 and a fifty-two week high of $87.30. The business’s 50-day moving average is $58.46 and its two-hundred day moving average is $65.48. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 1.60. The company has a market cap of $31.36 billion, a price-to-earnings ratio of 9.77 and a beta of 0.77.

Archer-Daniels-Midland (NYSE:ADM) last posted its earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.07). Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The firm had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.79 billion. During the same period in the prior year, the company posted $1.93 EPS. The firm’s revenue was down 11.4% compared to the same quarter last year. As a group, analysts forecast that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current year.

Archer-Daniels-Midland declared that its board has approved a stock repurchase program on Tuesday, March 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 8th were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $2.00 annualized dividend and a dividend yield of 3.20%. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 31.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays cut Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research note on Monday, January 22nd. UBS Group reissued a “neutral” rating and issued a $51.00 target price (down from $104.00) on shares of Archer-Daniels-Midland in a research note on Friday, January 26th. StockNews.com cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Stifel Nicolaus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating and cut their target price for the stock from $116.00 to $56.00 in a research note on Monday, January 22nd. Finally, BMO Capital Markets dropped their price objective on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and an average target price of $67.50.

About Archer-Daniels-Midland

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.