State of New Jersey Common Pension Fund D Sells 2,581 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

State of New Jersey Common Pension Fund D trimmed its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,063 shares of the company’s stock after selling 2,581 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Archer-Daniels-Midland worth $22,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADM. Northern Trust Corp boosted its holdings in Archer-Daniels-Midland by 1.9% during the third quarter. Northern Trust Corp now owns 13,303,791 shares of the company’s stock valued at $1,003,372,000 after purchasing an additional 252,486 shares in the last quarter. Morgan Stanley boosted its holdings in Archer-Daniels-Midland by 41.8% during the third quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock valued at $651,737,000 after purchasing an additional 2,547,232 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Archer-Daniels-Midland by 5.6% during the third quarter. Ameriprise Financial Inc. now owns 3,696,394 shares of the company’s stock valued at $278,779,000 after purchasing an additional 195,255 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Archer-Daniels-Midland by 31.4% during the third quarter. AQR Capital Management LLC now owns 2,864,305 shares of the company’s stock valued at $216,026,000 after purchasing an additional 683,984 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Archer-Daniels-Midland by 33.8% during the third quarter. LSV Asset Management now owns 2,395,296 shares of the company’s stock valued at $180,653,000 after purchasing an additional 605,696 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.

Archer-Daniels-Midland Stock Down 0.9 %

Shares of Archer-Daniels-Midland stock traded down $0.57 during trading hours on Thursday, reaching $60.99. The company’s stock had a trading volume of 2,726,123 shares, compared to its average volume of 5,959,327. Archer-Daniels-Midland Company has a one year low of $50.72 and a one year high of $87.30. The company has a market capitalization of $30.60 billion, a P/E ratio of 9.49 and a beta of 0.77. The stock’s fifty day simple moving average is $58.81 and its two-hundred day simple moving average is $65.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 1.60.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.07). The company had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.79 billion. Archer-Daniels-Midland had a return on equity of 15.25% and a net margin of 3.71%. The business’s revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 EPS. On average, research analysts forecast that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current year.

Archer-Daniels-Midland announced that its Board of Directors has authorized a share buyback program on Tuesday, March 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on ADM shares. Jefferies Financial Group reduced their target price on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, March 13th. UBS Group reissued a “neutral” rating and issued a $51.00 target price (down from $104.00) on shares of Archer-Daniels-Midland in a report on Friday, January 26th. Barclays downgraded Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a report on Monday, January 22nd. TheStreet downgraded Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a report on Monday, February 12th. Finally, StockNews.com downgraded Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.50.

About Archer-Daniels-Midland

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.