Archer Daniels Midland Co (ADM) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC increased its stake in Archer Daniels Midland Co (NYSE:ADM) by 60.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,015 shares of the company’s stock after purchasing an additional 10,144 shares during the period. Cornerstone Wealth Management LLC’s holdings in Archer Daniels Midland were worth $634,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ADM. BlackRock Inc. raised its position in Archer Daniels Midland by 8.7% in the 2nd quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock worth $2,106,235,000 after purchasing an additional 3,694,727 shares during the last quarter. Northern Trust Corp raised its position in Archer Daniels Midland by 13.1% in the 2nd quarter. Northern Trust Corp now owns 11,824,020 shares of the company’s stock worth $541,894,000 after purchasing an additional 1,369,242 shares during the last quarter. FMR LLC raised its position in Archer Daniels Midland by 252.0% in the 2nd quarter. FMR LLC now owns 1,126,191 shares of the company’s stock worth $51,613,000 after purchasing an additional 806,287 shares during the last quarter. Bank of New York Mellon Corp raised its position in Archer Daniels Midland by 8.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,985,797 shares of the company’s stock worth $411,820,000 after purchasing an additional 683,457 shares during the last quarter. Finally, Sabal Trust CO bought a new position in Archer Daniels Midland in the 3rd quarter worth approximately $26,206,000. Hedge funds and other institutional investors own 76.01% of the company’s stock.

ADM opened at $48.00 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 0.91. Archer Daniels Midland Co has a 52 week low of $38.59 and a 52 week high of $52.06. The firm has a market cap of $26.87 billion, a price-to-earnings ratio of 19.75 and a beta of 0.97.

In other Archer Daniels Midland news, VP John P. Stott sold 2,500 shares of Archer Daniels Midland stock in a transaction on Monday, October 8th. The shares were sold at an average price of $52.00, for a total transaction of $130,000.00. Following the completion of the sale, the vice president now owns 32,885 shares of the company’s stock, valued at approximately $1,710,020. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph D. Taets sold 3,847 shares of Archer Daniels Midland stock in a transaction on Monday, August 20th. The stock was sold at an average price of $51.01, for a total transaction of $196,235.47. Following the sale, the senior vice president now directly owns 171,366 shares of the company’s stock, valued at approximately $8,741,379.66. The disclosure for this sale can be found here. Insiders have sold a total of 8,500 shares of company stock valued at $436,038 in the last ninety days. Company insiders own 2.70% of the company’s stock.

Several research analysts recently weighed in on ADM shares. Cleveland Research restated a “hold” rating on shares of Archer Daniels Midland in a research report on Monday, October 1st. JPMorgan Chase & Co. upgraded shares of Archer Daniels Midland from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $42.00 to $48.00 in a research report on Monday, July 9th. Stephens restated an “overweight” rating on shares of Archer Daniels Midland in a research report on Thursday, August 16th. Morgan Stanley boosted their price objective on shares of Archer Daniels Midland from $33.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, August 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Archer Daniels Midland from $45.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 1st. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $49.36.

Archer Daniels Midland 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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Institutional Ownership by Quarter for Archer Daniels Midland (NYSE:ADM)

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