KBC Group NV cut its stake in shares of Archer Daniels Midland Company (NYSE:ADM – Free Report) by 6.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 90,197 shares of the company’s stock after selling 6,274 shares during the period. KBC Group NV’s holdings in Archer Daniels Midland were worth $6,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Archer Daniels Midland during the 4th quarter worth $402,743,000. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $316,525,000 after acquiring an additional 5,595,801 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Archer Daniels Midland by 831.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,592,030 shares of the company’s stock worth $321,486,000 after acquiring an additional 4,991,550 shares during the period. Dodge & Cox increased its stake in shares of Archer Daniels Midland by 13.4% during the fourth quarter. Dodge & Cox now owns 17,084,645 shares of the company’s stock worth $982,196,000 after acquiring an additional 2,016,101 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Archer Daniels Midland by 176.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,967,471 shares of the company’s stock worth $117,537,000 after purchasing an additional 1,256,596 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.
Archer Daniels Midland Stock Up 1.4%
ADM opened at $87.44 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.31. The company has a market cap of $42.14 billion, a price-to-earnings ratio of 39.21 and a beta of 0.62. Archer Daniels Midland Company has a one year low of $52.96 and a one year high of $87.67. The business’s fifty day moving average is $79.64 and its two-hundred day moving average is $72.88.
Archer Daniels Midland Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Archer Daniels Midland’s dividend payout ratio (DPR) is 93.27%.
Analysts Set New Price Targets
ADM has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Archer Daniels Midland from $58.00 to $60.00 and gave the stock an “underweight” rating in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Archer Daniels Midland in a report on Friday, July 17th. Zacks Research downgraded Archer Daniels Midland from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. increased their price objective on Archer Daniels Midland from $65.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Finally, UBS Group raised their target price on Archer Daniels Midland from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Archer Daniels Midland has an average rating of “Reduce” and a consensus target price of $75.67.
Read Our Latest Stock Report on Archer Daniels Midland
Archer Daniels Midland 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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