Korea Investment CORP purchased a new stake in Archer Daniels Midland Company (NYSE:ADM – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 258,631 shares of the company’s stock, valued at approximately $19,759,000.
A number of other large investors have also recently added to or reduced their stakes in ADM. Quadrant Capital Group LLC raised its stake in Archer Daniels Midland by 0.6% during the fourth quarter. Quadrant Capital Group LLC now owns 23,166 shares of the company’s stock valued at $1,332,000 after buying an additional 146 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in Archer Daniels Midland by 5.1% in the fourth quarter. Atlantic Union Bankshares Corp now owns 3,127 shares of the company’s stock valued at $180,000 after buying an additional 153 shares during the last quarter. Summit Financial LLC boosted its stake in Archer Daniels Midland by 0.9% during the 4th quarter. Summit Financial LLC now owns 16,947 shares of the company’s stock valued at $974,000 after purchasing an additional 153 shares during the period. QRG Capital Management Inc. grew its holdings in Archer Daniels Midland by 0.8% in the 1st quarter. QRG Capital Management Inc. now owns 20,648 shares of the company’s stock worth $1,501,000 after buying an additional 164 shares in the last quarter. Finally, Midwest Trust Co grew its stake in shares of Archer Daniels Midland by 4.3% in the first quarter. Midwest Trust Co now owns 4,009 shares of the company’s stock worth $291,000 after purchasing an additional 167 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.
Archer Daniels Midland Stock Performance
ADM stock opened at $80.10 on Monday. The firm has a 50 day simple moving average of $79.89 and a 200 day simple moving average of $75.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.39. Archer Daniels Midland Company has a 52 week low of $55.58 and a 52 week high of $88.46. The stock has a market cap of $38.60 billion, a P/E ratio of 21.95 and a beta of 0.62.
Archer Daniels Midland Announces Dividend
The company 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 of this dividend is Wednesday, August 19th. This represents a $2.08 annualized dividend and a yield of 2.6%. Archer Daniels Midland’s dividend payout ratio is 56.99%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on ADM. Barclays boosted their price target on shares of Archer Daniels Midland from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Archer Daniels Midland from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised Archer Daniels Midland from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. UBS Group upped their target price 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. Finally, Morgan Stanley upgraded Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $60.00 to $79.00 in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Archer Daniels Midland presently has a consensus rating of “Hold” and an average price target of $79.67.
Read Our Latest Stock Report 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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