Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Rodgers Brothers Inc.

Rodgers Brothers Inc. lessened its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 54.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 37,611 shares of the company’s stock after selling 44,400 shares during the quarter. Rodgers Brothers Inc.’s holdings in Archer-Daniels-Midland were worth $1,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Summit Financial LLC acquired a new stake in shares of Archer-Daniels-Midland during the fourth quarter worth $760,000. Wellington Management Group LLP raised its stake in Archer-Daniels-Midland by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 21,152,539 shares of the company’s stock worth $1,068,626,000 after acquiring an additional 1,722,428 shares during the period. Summit Securities Group LLC bought a new position in Archer-Daniels-Midland in the fourth quarter worth about $61,000. Allianz SE bought a new position in shares of Archer-Daniels-Midland during the fourth quarter valued at approximately $1,565,000. Finally, Allstate Corp bought a new position in shares of Archer-Daniels-Midland during the fourth quarter valued at approximately $719,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ADM. Bank of America reduced their price objective on 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. Citigroup boosted their price target on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Stephens dropped their price objective on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. BMO Capital Markets cut their price objective on shares of 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. Finally, 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 report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $53.63.

Archer-Daniels-Midland Stock Performance

Shares of ADM opened at $47.87 on Monday. Archer-Daniels-Midland Company has a 52-week low of $44.92 and a 52-week high of $66.08. The firm has a market capitalization of $22.97 billion, a PE ratio of 13.26, a P/E/G ratio of 1.54 and a beta of 0.67. The firm has a 50-day moving average price of $47.89 and a 200 day moving average price of $52.14. The company has a quick ratio of 0.81, a current ratio of 1.39 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland (NYSE:ADM) last announced its earnings results on Tuesday, February 4th. The company reported $1.14 EPS for the quarter, topping the consensus estimate 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 return on equity of 10.44% and a net margin of 2.10%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. On average, sell-side analysts anticipate that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer-Daniels-Midland announced that its board has approved a share repurchase program on Wednesday, December 11th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.26%. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, February 18th. 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.