State of Tennessee Treasury Department lowered its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 61.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 207,667 shares of the company’s stock after selling 331,166 shares during the quarter. State of Tennessee Treasury Department’s holdings in Archer-Daniels-Midland were worth $8,828,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ADM. Enterprise Financial Services Corp raised its stake in Archer-Daniels-Midland by 17.7% during the 2nd quarter. Enterprise Financial Services Corp now owns 2,526 shares of the company’s stock worth $105,000 after buying an additional 380 shares during the period. Manchester Capital Management LLC raised its stake in Archer-Daniels-Midland by 28.3% during the 2nd quarter. Manchester Capital Management LLC now owns 2,718 shares of the company’s stock worth $112,000 after buying an additional 600 shares during the period. Carroll Financial Associates Inc. raised its stake in Archer-Daniels-Midland by 24.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,854 shares of the company’s stock worth $159,000 after buying an additional 764 shares during the period. V Wealth Management LLC raised its stake in Archer-Daniels-Midland by 0.5% during the 2nd quarter. V Wealth Management LLC now owns 4,486 shares of the company’s stock worth $184,000 after buying an additional 22 shares during the period. Finally, Exane Derivatives raised its stake in Archer-Daniels-Midland by 575.0% during the 2nd quarter. Exane Derivatives now owns 4,509 shares of the company’s stock worth $187,000 after buying an additional 3,841 shares during the period. 73.50% of the stock is currently owned by institutional investors.
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Archer-Daniels-Midland Company (ADM) opened at $39.93 on Friday. The stock has a market capitalization of $22,330.85, a PE ratio of 16.85 and a beta of 1.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.61. Archer-Daniels-Midland Company has a 1-year low of $39.10 and a 1-year high of $47.44.
Archer-Daniels-Midland (NYSE:ADM) last released its earnings results on Tuesday, October 31st. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.10). The firm had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $16 billion. Archer-Daniels-Midland had a return on equity of 7.86% and a net margin of 2.01%. Archer-Daniels-Midland’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. equities analysts forecast that Archer-Daniels-Midland Company will post 2.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 16th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, November 15th. Archer-Daniels-Midland’s payout ratio is 59.81%.
Several brokerages recently commented on ADM. Zacks Investment Research raised Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Monness Crespi & Hardt began coverage on Archer-Daniels-Midland in a research note on Tuesday, October 24th. They set a “sell” rating and a $38.00 price objective on the stock. Citigroup Inc. downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $42.25 to $45.00 in a research note on Thursday, September 28th. Robert W. Baird began coverage on Archer-Daniels-Midland in a research note on Monday, September 11th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Piper Jaffray Companies set a $42.00 price objective on Archer-Daniels-Midland and gave the stock a “hold” rating in a research note on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.22.
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