Legal & General Group Plc bought a new stake in Archer Daniels Midland Company (NYSE:ADM – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,594,667 shares of the company’s stock, valued at approximately $198,233,000.
Other hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its holdings in shares of Archer Daniels Midland by 0.6% during the fourth quarter. Quadrant Capital Group LLC now owns 23,166 shares of the company’s stock worth $1,332,000 after purchasing an additional 146 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings 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 valued at $180,000 after buying an additional 153 shares during the last quarter. Summit Financial LLC boosted its position in 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 buying an additional 153 shares during the period. QRG Capital Management Inc. grew its holdings in Archer Daniels Midland by 0.8% during the 1st quarter. QRG Capital Management Inc. now owns 20,648 shares of the company’s stock worth $1,501,000 after acquiring an additional 164 shares during the last quarter. Finally, Midwest Trust Co grew its holdings in Archer Daniels Midland by 4.3% during the 1st quarter. Midwest Trust Co now owns 4,009 shares of the company’s stock worth $291,000 after acquiring an additional 167 shares during the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.
Archer Daniels Midland Stock Up 1.3%
Shares of NYSE ADM opened at $80.19 on Thursday. The company’s 50 day moving average price is $79.97 and its 200-day moving average price is $75.64. 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 company has a market capitalization of $38.65 billion, a P/E ratio of 21.97 and a beta of 0.62.
Archer Daniels Midland Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 19th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Archer Daniels Midland’s dividend payout ratio (DPR) is 56.99%.
Analyst Ratings Changes
ADM has been the subject of several analyst reports. Morgan Stanley raised shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $60.00 to $79.00 in a research note on Wednesday, August 5th. UBS Group increased their price objective on Archer Daniels Midland from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, June 15th. 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 report on Wednesday, August 5th. Weiss Ratings raised Archer Daniels Midland from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered Archer Daniels Midland from a “strong-buy” rating to a “buy” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.67.
Get Our Latest Research Report 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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