Janney Montgomery Scott LLC raised its position in shares of Archer Daniels Midland Company (NYSE:ADM – Free Report) by 19.1% during the 1st quarter, Holdings Channel reports. The firm owned 247,479 shares of the company’s stock after buying an additional 39,678 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Archer Daniels Midland were worth $17,989,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the company. Woodline Partners LP increased its stake in shares of Archer Daniels Midland by 40.8% in the first quarter. Woodline Partners LP now owns 40,429 shares of the company’s stock worth $1,941,000 after acquiring an additional 11,715 shares during the period. Daiwa Securities Group Inc. lifted its position in Archer Daniels Midland by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 83,983 shares of the company’s stock valued at $4,433,000 after purchasing an additional 4,224 shares during the period. Sei Investments Co. boosted its holdings in Archer Daniels Midland by 40.0% in the second quarter. Sei Investments Co. now owns 191,633 shares of the company’s stock valued at $10,116,000 after purchasing an additional 54,746 shares during the last quarter. Glenview Trust co acquired a new stake in Archer Daniels Midland during the 2nd quarter worth about $203,000. Finally, Treasurer of the State of North Carolina raised its stake in shares of Archer Daniels Midland by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 223,280 shares of the company’s stock valued at $11,785,000 after buying an additional 5,051 shares during the last quarter. 78.28% of the stock is currently owned by hedge funds and other institutional investors.
Archer Daniels Midland Trading Down 0.6%
Shares of ADM opened at $76.39 on Wednesday. The firm has a market capitalization of $36.82 billion, a P/E ratio of 34.26 and a beta of 0.60. Archer Daniels Midland Company has a 12-month low of $52.23 and a 12-month high of $85.37. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $77.53 and a 200 day moving average price of $70.29.
Archer Daniels Midland Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Archer Daniels Midland’s dividend payout ratio is presently 93.27%.
Analyst Ratings Changes
Several analysts recently commented on ADM shares. JPMorgan Chase & Co. raised their target price on Archer Daniels Midland from $65.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Morgan Stanley upped their price objective on Archer Daniels Midland from $54.00 to $58.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Barclays raised their price objective on shares of Archer Daniels Midland from $77.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. UBS Group boosted their target price on shares of Archer Daniels Midland from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Finally, Wall Street Zen raised shares of Archer Daniels Midland from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $75.33.
View Our Latest Stock Analysis on ADM
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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