Orca Investment Management LLC Sells 3,259 Shares of Archer Daniels Midland Company $ADM

Orca Investment Management LLC decreased its position in shares of Archer Daniels Midland Company (NYSE:ADM) by 7.9% in the second quarter, Holdings Channel reports. The fund owned 38,083 shares of the company’s stock after selling 3,259 shares during the period. Archer Daniels Midland accounts for 1.8% of Orca Investment Management LLC’s investment portfolio, making the stock its 18th biggest holding. Orca Investment Management LLC’s holdings in Archer Daniels Midland were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB acquired a new position in Archer Daniels Midland during the 1st quarter worth $1,183,000. Bell Bank lifted its position in Archer Daniels Midland by 11.0% during the 1st quarter. Bell Bank now owns 167,536 shares of the company’s stock worth $8,043,000 after acquiring an additional 16,558 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Archer Daniels Midland by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 508,956 shares of the company’s stock worth $26,863,000 after acquiring an additional 49,954 shares during the last quarter. SG Americas Securities LLC acquired a new position in Archer Daniels Midland during the 1st quarter worth $333,000. Finally, Perpetual Ltd acquired a new position in Archer Daniels Midland during the 2nd quarter worth $227,000. Institutional investors and hedge funds own 78.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ADM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Archer Daniels Midland in a research report on Wednesday. JPMorgan Chase & Co. began coverage on shares of Archer Daniels Midland in a research report on Wednesday, August 20th. They set a “neutral” rating and a $61.00 price objective for the company. Barclays raised shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $50.00 to $61.00 in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Morgan Stanley upped their price objective on shares of Archer Daniels Midland from $47.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.50.

Archer Daniels Midland Stock Performance

NYSE ADM opened at $60.86 on Friday. The stock has a market cap of $29.24 billion, a P/E ratio of 26.81, a PEG ratio of 3.24 and a beta of 0.70. The company’s 50-day simple moving average is $60.78 and its 200 day simple moving average is $53.81. Archer Daniels Midland Company has a twelve month low of $40.98 and a twelve month high of $64.38. The company has a quick ratio of 0.90, a current ratio of 1.42 and a debt-to-equity ratio of 0.34.

Archer Daniels Midland (NYSE:ADM) last posted its earnings results on Monday, December 2nd. The company reported $1.63 earnings per share for the quarter. The business had revenue of $21.70 billion for the quarter. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. As a group, research analysts forecast that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.04 annualized dividend and a dividend yield of 3.4%. Archer Daniels Midland’s dividend payout ratio (DPR) is presently 89.87%.

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.