Sound Income Strategies LLC cut its holdings in Archer Daniels Midland Company (NYSE:ADM – Free Report) by 97.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,336 shares of the company’s stock after selling 49,910 shares during the period. Sound Income Strategies LLC’s holdings in Archer Daniels Midland were worth $97,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Dodge & Cox lifted its holdings in Archer Daniels Midland by 130.1% in the 3rd quarter. Dodge & Cox now owns 15,068,544 shares of the company’s stock worth $900,195,000 after purchasing an additional 8,518,920 shares during the last quarter. Norges Bank bought a new position in shares of Archer Daniels Midland in the fourth quarter valued at approximately $402,743,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Archer Daniels Midland by 3,379.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,761,397 shares of the company’s stock worth $316,525,000 after buying an additional 5,595,801 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Archer Daniels Midland by 831.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,592,030 shares of the company’s stock worth $321,486,000 after buying an additional 4,991,550 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in Archer Daniels Midland by 176.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,967,471 shares of the company’s stock valued at $117,537,000 after buying an additional 1,256,596 shares during the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.
Archer Daniels Midland Stock Performance
Shares of NYSE ADM traded up $0.07 during mid-day trading on Tuesday, hitting $78.00. The company had a trading volume of 216,313 shares, compared to its average volume of 3,839,662. Archer Daniels Midland Company has a 12 month low of $52.23 and a 12 month high of $85.37. The firm has a market cap of $37.59 billion, a P/E ratio of 34.79 and a beta of 0.62. The business’s 50-day simple moving average is $77.98 and its 200-day simple moving average is $70.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.80.
Archer Daniels Midland Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, May 20th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Archer Daniels Midland’s payout ratio is currently 93.27%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Archer Daniels Midland from $65.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Wall Street Zen raised Archer Daniels Midland from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Jefferies Financial Group increased their price objective on Archer Daniels Midland from $65.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, April 6th. Weiss Ratings restated a “hold (c)” rating on shares of Archer Daniels Midland in a research note on Monday, April 20th. Finally, Barclays boosted their target price on shares of Archer Daniels Midland from $77.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $75.33.
View Our Latest Stock Analysis on ADM
Archer Daniels Midland Company Profile
Archer Daniels Midland Company (ADM) is a global agricultural processor and food-ingredient provider that sources, transports and processes oilseeds, corn, wheat and other agricultural commodities. The company operates large-scale crushing, refining and processing facilities that produce vegetable oils, protein meals, corn sweeteners, starches, ethanol, animal feeds and a wide range of food and industrial ingredients. ADM also develops specialty ingredients and solutions for human and animal nutrition, food and beverage formulation, and industrial applications such as bio-based materials and renewable fuels.
ADM’s business combines commodity origination and merchandising with downstream manufacturing and ingredient formulation.
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