The Manufacturers Life Insurance Company lessened its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 537,526 shares of the company’s stock after selling 29,811 shares during the period. The Manufacturers Life Insurance Company owned 0.10% of Archer-Daniels-Midland worth $24,990,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in Archer-Daniels-Midland by 11.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 112,527 shares of the company’s stock valued at $4,490,000 after purchasing an additional 11,961 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Archer-Daniels-Midland by 9.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 165,177 shares of the company’s stock valued at $6,590,000 after purchasing an additional 13,898 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Archer-Daniels-Midland in the 2nd quarter valued at approximately $835,000. FDx Advisors Inc. purchased a new stake in Archer-Daniels-Midland in the 2nd quarter valued at approximately $203,000. Finally, Banque Cantonale Vaudoise boosted its holdings in Archer-Daniels-Midland by 85.7% in the 2nd quarter. Banque Cantonale Vaudoise now owns 13,837 shares of the company’s stock valued at $552,000 after purchasing an additional 6,387 shares in the last quarter. Hedge funds and other institutional investors own 65.07% of the company’s stock.
Shares of Archer-Daniels-Midland stock opened at $48.61 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 1.01. Archer-Daniels-Midland Company has a 1 year low of $28.92 and a 1 year high of $52.05. The company has a market capitalization of $27.05 billion, a P/E ratio of 17.18 and a beta of 0.87. The business has a 50 day moving average price of $49.10 and a 200 day moving average price of $43.39.
Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.18. Archer-Daniels-Midland had a return on equity of 11.10% and a net margin of 2.53%. The firm had revenue of $15.13 billion during the quarter, compared to the consensus estimate of $16.69 billion. During the same period in the previous year, the firm posted $0.77 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, research analysts expect that Archer-Daniels-Midland Company will post 3.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be issued a $0.36 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $1.44 annualized dividend and a yield of 2.96%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 44.44%.
A number of brokerages have weighed in on ADM. Monness Crespi & Hardt raised Archer-Daniels-Midland from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, October 26th. JPMorgan Chase & Co. raised Archer-Daniels-Midland from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Monday, October 19th. Seaport Global Securities started coverage on Archer-Daniels-Midland in a research note on Tuesday, July 28th. They set a “buy” rating and a $51.00 price target on the stock. Credit Suisse Group raised Archer-Daniels-Midland from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $44.00 to $46.00 in a research note on Monday, November 2nd. Finally, Cleveland Research raised Archer-Daniels-Midland from a “neutral” rating to a “buy” rating in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Archer-Daniels-Midland currently has an average rating of “Buy” and an average price target of $50.27.
In other Archer-Daniels-Midland news, Director Pierre Dufour purchased 11,100 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $496,725.00. Following the acquisition, the director now owns 18,800 shares of the company’s stock, valued at approximately $841,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Juan R. Luciano sold 57,424 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $50.01, for a total value of $2,871,774.24. Following the completion of the transaction, the chief executive officer now owns 547,516 shares of the company’s stock, valued at $27,381,275.16. The disclosure for this sale can be found here. Insiders sold a total of 380,639 shares of company stock valued at $19,087,445 over the last quarter. 1.27% of the stock is currently owned by insiders.
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. It procures, stores, cleans, and transports agricultural raw materials, such as oilseeds, corn, wheat, milo, oats, rice, and barley.
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