New York State Common Retirement Fund Reduces Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

New York State Common Retirement Fund decreased its position in Archer-Daniels-Midland Company (NYSE:ADM) by 7.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 255,199 shares of the company’s stock after selling 19,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Archer-Daniels-Midland were worth $12,893,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in Archer-Daniels-Midland in the third quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth about $26,000. Peterson Financial Group Inc. bought a new position in shares of Archer-Daniels-Midland in the 3rd quarter worth about $28,000. Raleigh Capital Management Inc. lifted its position in Archer-Daniels-Midland by 179.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 357 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in Archer-Daniels-Midland during the fourth quarter worth about $28,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ADM. Morgan Stanley decreased their target price on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Barclays reduced their price objective on shares of Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. BMO Capital Markets lowered their price objective on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Citigroup lifted their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Bank of America reduced their price target on shares of Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, Archer-Daniels-Midland presently has an average rating of “Hold” and an average target price of $55.11.

Archer-Daniels-Midland Trading Up 3.8 %

Shares of ADM opened at $48.30 on Monday. Archer-Daniels-Midland Company has a twelve month low of $44.92 and a twelve month high of $66.08. The company’s fifty day simple moving average is $49.47 and its 200-day simple moving average is $54.30. The company has a market cap of $23.11 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.48 and a beta of 0.72. The company has a current ratio of 5.44, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $22.77 billion. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, analysts expect that Archer-Daniels-Midland Company will post 4.31 EPS for the current year.

Archer-Daniels-Midland declared that its board has approved a share repurchase plan on Wednesday, December 11th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Archer-Daniels-Midland Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.51 per share. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.22%. Archer-Daniels-Midland’s dividend payout ratio is presently 56.51%.

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.