Van ECK Associates Corp Decreases Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Van ECK Associates Corp lowered its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 6.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 755,647 shares of the company’s stock after selling 50,385 shares during the period. Van ECK Associates Corp owned about 0.14% of Archer-Daniels-Midland worth $54,573,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ADM. Exchange Traded Concepts LLC grew its holdings in Archer-Daniels-Midland by 119.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,077 shares of the company’s stock worth $81,000 after acquiring an additional 586 shares during the last quarter. Simplicity Solutions LLC lifted its position in shares of Archer-Daniels-Midland by 41.8% in the 3rd quarter. Simplicity Solutions LLC now owns 11,669 shares of the company’s stock worth $880,000 after purchasing an additional 3,438 shares during the period. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Archer-Daniels-Midland by 6.8% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 14,132 shares of the company’s stock valued at $1,066,000 after purchasing an additional 902 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Archer-Daniels-Midland during the third quarter valued at about $406,000. Finally, Commonwealth Equity Services LLC raised its stake in Archer-Daniels-Midland by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 220,398 shares of the company’s stock worth $16,622,000 after buying an additional 2,918 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group lowered Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $90.00 to $67.00 in a research report on Monday, January 22nd. Jefferies Financial Group lowered their price objective on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, March 13th. UBS Group reaffirmed a “neutral” rating and issued a $51.00 target price (down from $104.00) on shares of Archer-Daniels-Midland in a research report on Friday, January 26th. Argus cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Roth Mkm cut shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $98.00 to $66.00 in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to MarketBeat.com, Archer-Daniels-Midland currently has an average rating of “Hold” and a consensus target price of $67.50.

Archer-Daniels-Midland Stock Performance

NYSE ADM traded down $2.22 during trading hours on Tuesday, hitting $58.47. The company’s stock had a trading volume of 2,006,138 shares, compared to its average volume of 5,834,957. Archer-Daniels-Midland Company has a 12 month low of $50.72 and a 12 month high of $87.30. The company’s 50 day simple moving average is $59.21 and its two-hundred day simple moving average is $65.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.60 and a quick ratio of 0.95. The company has a market cap of $29.34 billion, a P/E ratio of 9.48 and a beta of 0.77.

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

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.