Meeder Asset Management Inc. bought a new position in shares of Archer Daniels Midland Company (NYSE:ADM – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,798 shares of the company’s stock, valued at approximately $1,513,000.
Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Archer Daniels Midland during the 4th quarter worth approximately $402,743,000. Swedbank AB grew its holdings in Archer Daniels Midland by 9.2% during the 4th quarter. Swedbank AB now owns 399,047 shares of the company’s stock valued at $22,941,000 after buying an additional 33,647 shares during the last quarter. Banque Cantonale Vaudoise increased its position in Archer Daniels Midland by 56.4% during the fourth quarter. Banque Cantonale Vaudoise now owns 50,181 shares of the company’s stock worth $2,886,000 after buying an additional 18,088 shares in the last quarter. Fisher Asset Management LLC increased its position in Archer Daniels Midland by 385.5% during the fourth quarter. Fisher Asset Management LLC now owns 17,098 shares of the company’s stock worth $983,000 after buying an additional 13,576 shares in the last quarter. Finally, North Dakota State Investment Board acquired a new position in shares of Archer Daniels Midland in the fourth quarter worth $1,634,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.
Archer Daniels Midland Trading Up 1.5%
Shares of Archer Daniels Midland stock opened at $82.54 on Wednesday. Archer Daniels Midland Company has a fifty-two week low of $55.58 and a fifty-two week high of $88.46. The business’s fifty day moving average is $79.85 and its two-hundred day moving average is $75.10. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.27. The firm has a market cap of $39.78 billion, a PE ratio of 22.61 and a beta of 0.62.
Archer Daniels Midland Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 19th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.08 annualized dividend and a yield of 2.5%. Archer Daniels Midland’s payout ratio is 56.99%.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Wall Street Zen upgraded Archer Daniels Midland from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Morgan Stanley upgraded Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $60.00 to $79.00 in a research report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Archer Daniels Midland from $65.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Barclays upped their target price on shares of Archer Daniels Midland from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Finally, Zacks Research raised shares of Archer Daniels Midland from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.67.
Get Our Latest Analysis on ADM
About Archer Daniels Midland
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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