Zions Bancorporation Takes $169,000 Position in Archer Daniels Midland Co (ADM)

Zions Bancorporation purchased a new stake in shares of Archer Daniels Midland Co (NYSE:ADM) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 3,359 shares of the company’s stock, valued at approximately $169,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Archer Daniels Midland by 8.7% during the 2nd quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock worth $2,106,235,000 after acquiring an additional 3,694,727 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Archer Daniels Midland by 13.1% during the 2nd quarter. Northern Trust Corp now owns 11,824,020 shares of the company’s stock worth $541,894,000 after acquiring an additional 1,369,242 shares in the last quarter. FMR LLC boosted its stake in shares of Archer Daniels Midland by 252.0% during the 2nd quarter. FMR LLC now owns 1,126,191 shares of the company’s stock worth $51,613,000 after acquiring an additional 806,287 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Archer Daniels Midland by 8.2% during 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 acquiring an additional 683,457 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of Archer Daniels Midland by 268.0% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 777,487 shares of the company’s stock worth $39,084,000 after acquiring an additional 566,200 shares in the last quarter. 76.07% of the stock is owned by hedge funds and other institutional investors.

ADM opened at $47.81 on Wednesday. The firm has a market capitalization of $26.87 billion, a PE ratio of 19.67 and a beta of 0.97. Archer Daniels Midland Co has a 12-month low of $38.59 and a 12-month high of $52.06. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.32.

Archer Daniels Midland (NYSE:ADM) last released its earnings results on Tuesday, November 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.09. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.72 billion. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. Sell-side analysts anticipate that Archer Daniels Midland Co will post 3.45 EPS for the current fiscal year.

In other news, insider Joseph D. Taets sold 2,153 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $51.00, for a total value of $109,803.00. Following the completion of the sale, the insider now owns 169,213 shares in the company, valued at $8,629,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John P. Stott sold 2,500 shares of the stock in a transaction on Monday, October 8th. The shares were sold at an average price of $52.00, for a total value 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 disclosure for this sale can be found here. Insiders sold 8,500 shares of company stock valued at $436,038 in the last 90 days. Corporate insiders own 0.94% of the company’s stock.

Several research firms have recently weighed in on ADM. Stephens reissued an “overweight” rating on shares of Archer Daniels Midland in a research note on Thursday, August 16th. Cleveland Research reissued a “hold” rating on shares of Archer Daniels Midland in a research note on Monday, October 1st. Morgan Stanley raised their price objective on Archer Daniels Midland from $33.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, August 3rd. BMO Capital Markets raised their price objective on Archer Daniels Midland from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 1st. Finally, Buckingham Research raised their price objective on Archer Daniels Midland from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $49.36.

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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.

Further Reading: Insider Trading – What You Need to Know

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

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