State of New Jersey Common Pension Fund D Has $22.10 Million Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

State of New Jersey Common Pension Fund D lowered its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 0.8% during the fourth quarter, HoldingsChannel.com reports. 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’s holdings in Archer-Daniels-Midland were worth $22,104,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Archer-Daniels-Midland during the third quarter worth $28,000. Tompkins Financial Corp acquired a new stake in shares of Archer-Daniels-Midland in the 3rd quarter valued at about $28,000. Legacy Financial Group LLC bought a new stake in shares of Archer-Daniels-Midland in the third quarter valued at about $30,000. Operose Advisors LLC acquired a new position in shares of Archer-Daniels-Midland during the third quarter worth about $30,000. Finally, Strengthening Families & Communities LLC grew its holdings in shares of Archer-Daniels-Midland by 37.3% during the third quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock worth $48,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. TheStreet cut shares of Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a research note on Monday, February 12th. The Goldman Sachs Group cut shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $67.00 in a research note on Monday, January 22nd. Roth Capital cut shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Finally, Argus cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat.com, Archer-Daniels-Midland presently has an average rating of “Hold” and a consensus price target of $67.50.

Archer-Daniels-Midland Stock Performance

Shares of ADM traded down $0.57 during midday trading on Thursday, reaching $60.99. 2,726,123 shares of the stock were exchanged, compared to its average volume of 5,959,327. Archer-Daniels-Midland Company has a twelve month low of $50.72 and a twelve month high of $87.30. The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.34. The company has a market cap of $30.60 billion, a P/E ratio of 9.49 and a beta of 0.77. The stock’s 50 day simple moving average is $58.81 and its 200 day simple moving average is $65.37.

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

Archer-Daniels-Midland declared that its board has approved a share buyback plan on Tuesday, March 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.