Cadence Capital Management LLC Lowers Position in Archer Daniels Midland Co (ADM)

Cadence Capital Management LLC decreased its position in Archer Daniels Midland Co (NYSE:ADM) by 35.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,396 shares of the company’s stock after selling 46,568 shares during the period. Cadence Capital Management LLC’s holdings in Archer Daniels Midland were worth $4,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Donald L. Hagan LLC lifted its holdings in Archer Daniels Midland by 3.7% during the second quarter. Donald L. Hagan LLC now owns 30,240 shares of the company’s stock worth $1,386,000 after buying an additional 1,078 shares during the period. Raymond James Trust N.A. lifted its holdings in Archer Daniels Midland by 12.8% during the third quarter. Raymond James Trust N.A. now owns 9,653 shares of the company’s stock worth $485,000 after buying an additional 1,097 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Archer Daniels Midland by 1.5% during the second quarter. Envestnet Asset Management Inc. now owns 75,246 shares of the company’s stock worth $3,450,000 after buying an additional 1,119 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Archer Daniels Midland by 71.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,778 shares of the company’s stock worth $127,000 after buying an additional 1,154 shares during the period. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in Archer Daniels Midland by 1.3% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 92,692 shares of the company’s stock worth $4,660,000 after buying an additional 1,189 shares during the period. Hedge funds and other institutional investors own 76.07% of the company’s stock.

Shares of ADM stock opened at $48.00 on Monday. The firm has a market cap of $26.87 billion, a PE ratio of 19.75 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 1.59. Archer Daniels Midland Co has a 12-month low of $38.59 and a 12-month high of $52.06.

In related news, SVP Joseph D. Taets sold 3,847 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $51.01, for a total value of $196,235.47. Following the transaction, the senior vice president now directly owns 171,366 shares of the company’s stock, valued at approximately $8,741,379.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph D. Taets sold 2,153 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $51.00, for a total value of $109,803.00. Following the completion of the transaction, the insider now directly owns 169,213 shares in the company, valued at $8,629,863. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,500 shares of company stock worth $436,038. Insiders own 0.94% of the company’s stock.

A number of analysts have weighed in on the company. Cleveland Research restated a “hold” rating on shares of Archer Daniels Midland in a report on Monday, October 1st. Stephens restated an “overweight” rating on shares of Archer Daniels Midland in a report on Thursday, August 16th. Morgan Stanley upped their target price on Archer Daniels Midland from $33.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, August 3rd. BMO Capital Markets upped their target price on Archer Daniels Midland from $45.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, August 1st. Finally, Buckingham Research upped their price target on Archer Daniels Midland from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Archer Daniels Midland presently has a consensus rating of “Hold” and an average price target of $49.36.

About Archer Daniels Midland

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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