Csenge Advisory Group acquired a new position in Archer Daniels Midland Company (NYSE:ADM – Free Report) in the second quarter, HoldingsChannel reports. The fund acquired 46,577 shares of the company’s stock, valued at approximately $3,558,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Archer Daniels Midland during the 4th quarter worth $402,743,000. Swedbank AB grew its stake in Archer Daniels Midland by 9.2% in the fourth quarter. Swedbank AB now owns 399,047 shares of the company’s stock valued at $22,941,000 after purchasing an additional 33,647 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in Archer Daniels Midland by 56.4% in the fourth quarter. Banque Cantonale Vaudoise now owns 50,181 shares of the company’s stock worth $2,886,000 after purchasing an additional 18,088 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Archer Daniels Midland by 385.5% in the fourth quarter. Fisher Asset Management LLC now owns 17,098 shares of the company’s stock worth $983,000 after purchasing an additional 13,576 shares in the last quarter. Finally, North Dakota State Investment Board purchased a new stake in shares of Archer Daniels Midland during the fourth quarter valued at about $1,634,000. 78.28% of the stock is currently owned by institutional investors.
Archer Daniels Midland Trading Down 2.0%
Shares of NYSE:ADM opened at $80.80 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. Archer Daniels Midland Company has a 12-month low of $55.58 and a 12-month high of $88.46. The business has a 50 day moving average of $79.84 and a two-hundred day moving average of $75.19. The company has a market capitalization of $38.94 billion, a PE ratio of 22.14 and a beta of 0.62.
Archer Daniels Midland Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Archer Daniels Midland’s dividend payout ratio is presently 56.99%.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Archer Daniels Midland from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Archer Daniels Midland from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. UBS Group raised their price objective on Archer Daniels Midland from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Barclays boosted 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. Finally, JPMorgan Chase & Co. upped their target price on Archer Daniels Midland from $65.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.67.
Get Our Latest Analysis 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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