US Bancorp DE Sells 89,836 Shares of Archer Daniels Midland Co (ADM)

US Bancorp DE reduced its position in Archer Daniels Midland Co (NYSE:ADM) by 15.5% in the third quarter, HoldingsChannel.com reports. The fund owned 490,225 shares of the company’s stock after selling 89,836 shares during the quarter. US Bancorp DE’s holdings in Archer Daniels Midland were worth $24,643,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Archer Daniels Midland by 8.7% during the second quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock valued at $2,106,235,000 after purchasing an additional 3,694,727 shares during the last quarter. Northern Trust Corp lifted its position in Archer Daniels Midland by 13.1% during the second quarter. Northern Trust Corp now owns 11,824,020 shares of the company’s stock valued at $541,894,000 after purchasing an additional 1,369,242 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Archer Daniels Midland by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 8,985,797 shares of the company’s stock valued at $411,820,000 after purchasing an additional 683,457 shares during the last quarter. Marathon Asset Management LLP lifted its position in Archer Daniels Midland by 0.3% during the second quarter. Marathon Asset Management LLP now owns 2,728,468 shares of the company’s stock valued at $125,046,000 after purchasing an additional 9,312 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Archer Daniels Midland by 22.1% during the second quarter. Wells Fargo & Company MN now owns 2,311,658 shares of the company’s stock valued at $105,943,000 after purchasing an additional 418,469 shares during the last quarter. Institutional investors own 76.07% of the company’s stock.

Shares of ADM opened at $48.10 on Tuesday. The company has a market capitalization of $26.87 billion, a PE ratio of 19.79 and a beta of 0.97. 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 fifty-two week low of $38.59 and a fifty-two week high of $52.06.

In related news, insider Joseph D. Taets sold 2,153 shares of Archer Daniels Midland 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 transaction, the insider now directly owns 169,213 shares of the company’s stock, valued at $8,629,863. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the senior vice president now directly owns 171,366 shares in the company, valued at $8,741,379.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,500 shares of company stock valued at $436,038. Company insiders own 0.94% of the company’s stock.

Several equities research analysts have issued reports on the stock. Cleveland Research reiterated a “hold” rating on shares of Archer Daniels Midland in a research report on Monday, October 1st. BMO Capital Markets lifted their target price on shares of Archer Daniels Midland from $45.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, August 1st. JPMorgan Chase & Co. upgraded shares of Archer Daniels Midland from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $42.00 to $48.00 in a research report on Monday, July 9th. Buckingham Research lifted their target price on shares of Archer Daniels Midland from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, Morgan Stanley lifted their target price on shares of Archer Daniels Midland from $33.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $49.36.

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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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Want to see what other hedge funds are holding ADM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Daniels Midland Co (NYSE:ADM).

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

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