Principle Wealth Partners LLC bought a new stake in Archer Daniels Midland Company (NYSE:ADM – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,646 shares of the company’s stock, valued at approximately $508,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its stake in Archer Daniels Midland by 0.6% during the 4th quarter. Quadrant Capital Group LLC now owns 23,166 shares of the company’s stock valued at $1,332,000 after acquiring an additional 146 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in Archer Daniels Midland by 5.1% in the 4th quarter. Atlantic Union Bankshares Corp now owns 3,127 shares of the company’s stock worth $180,000 after purchasing an additional 153 shares in the last quarter. Summit Financial LLC boosted its holdings in shares of Archer Daniels Midland by 0.9% during the 4th quarter. Summit Financial LLC now owns 16,947 shares of the company’s stock worth $974,000 after purchasing an additional 153 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of Archer Daniels Midland by 2.6% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,436 shares of the company’s stock valued at $370,000 after purchasing an additional 161 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Archer Daniels Midland by 0.8% in the first quarter. QRG Capital Management Inc. now owns 20,648 shares of the company’s stock valued at $1,501,000 after purchasing an additional 164 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.
Archer Daniels Midland Trading Up 1.1%
Shares of Archer Daniels Midland stock opened at $81.32 on Tuesday. The stock has a 50 day moving average of $79.80 and a 200 day moving average of $74.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.39. The firm has a market capitalization of $39.19 billion, a price-to-earnings ratio of 22.28 and a beta of 0.62. Archer Daniels Midland Company has a fifty-two week low of $55.58 and a fifty-two week high of $88.46.
Archer Daniels Midland Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 19th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, August 19th. Archer Daniels Midland’s payout ratio is 56.99%.
Analysts Set New Price Targets
A number of equities analysts recently commented on ADM shares. JPMorgan Chase & Co. lifted 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. Barclays raised their target price on Archer Daniels Midland from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Archer Daniels Midland from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Zacks Research raised shares of Archer Daniels Midland from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley raised shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $60.00 to $79.00 in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.67.
Get Our Latest Stock Analysis on Archer Daniels Midland
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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