State of Wisconsin Investment Board cut its holdings in shares of Archer Daniels Midland (NYSE:ADM) by 43.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 537,273 shares of the company’s stock after selling 409,422 shares during the period. State of Wisconsin Investment Board owned 0.10% of Archer Daniels Midland worth $23,302,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in shares of Archer Daniels Midland by 17.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 491,328 shares of the company’s stock worth $21,309,000 after purchasing an additional 73,255 shares in the last quarter. Van Cleef Asset Management Inc grew its holdings in shares of Archer Daniels Midland by 2.3% during the first quarter. Van Cleef Asset Management Inc now owns 194,016 shares of the company’s stock valued at $8,414,000 after buying an additional 4,279 shares during the last quarter. Barings LLC grew its holdings in shares of Archer Daniels Midland by 8.2% during the first quarter. Barings LLC now owns 183,506 shares of the company’s stock valued at $7,959,000 after buying an additional 13,899 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Archer Daniels Midland by 3.5% during the first quarter. M&T Bank Corp now owns 47,056 shares of the company’s stock valued at $2,040,000 after buying an additional 1,605 shares during the last quarter. Finally, Busey Trust CO purchased a new stake in shares of Archer Daniels Midland during the first quarter valued at $1,055,000. 78.03% of the stock is currently owned by institutional investors and hedge funds.
In other Archer Daniels Midland news, insider Ambrose Michael D sold 20,762 shares of the company’s stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $45.00, for a total value of $934,290.00. Following the sale, the insider now directly owns 219,384 shares of the company’s stock, valued at $9,872,280. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.94% of the stock is currently owned by corporate insiders.
NYSE:ADM opened at $44.41 on Wednesday. Archer Daniels Midland has a one year low of $44.17 and a one year high of $44.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 1.57. The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of 18.28 and a beta of 1.01.
Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, May 1st. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.47 by $0.21. Archer Daniels Midland had a net margin of 2.69% and a return on equity of 7.96%. The company had revenue of $15.53 billion for the quarter, compared to analyst estimates of $15.35 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. sell-side analysts anticipate that Archer Daniels Midland will post 3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Thursday, May 17th will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, May 16th. Archer Daniels Midland’s payout ratio is 55.14%.
A number of brokerages have recently weighed in on ADM. Vertical Group raised shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Thursday, February 15th. ValuEngine lowered shares of Archer Daniels Midland from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Stephens raised shares of Archer Daniels Midland from an “equal weight” rating to an “overweight” rating in a report on Wednesday, February 7th. Finally, Citigroup raised shares of Archer Daniels Midland from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $42.72 to $49.00 in a report on Tuesday, March 6th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $45.56.
Archer Daniels Midland Company Profile
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. It operates through four segments: Carbohydrate Solutions, Nutrition, Oilseeds, and Origination. The company offers oilseeds, corn, wheat, milo, oats, rice, and barley; and structured trade finance, as well as processes wheat into wheat flour.
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