NEOS Investment Management LLC lifted its stake in shares of Archer Daniels Midland Company (NYSE:ADM – Free Report) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,715 shares of the company’s stock after acquiring an additional 9,826 shares during the quarter. NEOS Investment Management LLC’s holdings in Archer Daniels Midland were worth $6,014,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Archer Daniels Midland in the second quarter worth $3,409,089,000. Norges Bank acquired a new position in Archer Daniels Midland in the 4th quarter valued at $402,743,000. Northwestern Mutual Wealth Management Co. grew its stake in Archer Daniels Midland by 3,379.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,761,397 shares of the company’s stock valued at $316,525,000 after buying an additional 5,595,801 shares during the last quarter. Victory Capital Management Inc. lifted its position in Archer Daniels Midland by 831.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,592,030 shares of the company’s stock worth $321,486,000 after acquiring an additional 4,991,550 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Archer Daniels Midland during the second quarter valued at about $257,394,000. Institutional investors and hedge funds own 78.28% of the company’s stock.
Archer Daniels Midland Stock Performance
NYSE:ADM opened at $84.66 on Monday. The firm’s 50-day moving average is $80.98 and its 200-day moving average is $76.35. Archer Daniels Midland Company has a 52-week low of $55.58 and a 52-week high of $88.46. 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 company has a market cap of $40.80 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.58 and a beta of 0.62.
Archer Daniels Midland Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 19th will be given a $0.52 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Archer Daniels Midland’s dividend payout ratio (DPR) is currently 56.99%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on ADM shares. Zacks Research raised Archer Daniels Midland from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Morgan Stanley upgraded Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $60.00 to $79.00 in a research note on Wednesday, August 5th. Barclays raised their target price on Archer Daniels Midland from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Wall Street Zen raised Archer Daniels Midland from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 31st. Finally, Weiss Ratings upgraded Archer Daniels Midland from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Archer Daniels Midland has a consensus rating of “Hold” and an average price target of $79.67.
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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