Van Hulzen Asset Management LLC decreased its stake in shares of Archer Daniels Midland Company (NYSE:ADM – Free Report) by 13.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 458,267 shares of the company’s stock after selling 70,700 shares during the period. Archer Daniels Midland accounts for 2.5% of Van Hulzen Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Van Hulzen Asset Management LLC owned approximately 0.10% of Archer Daniels Midland worth $35,012,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in ADM. BlackRock Inc. acquired a new position in Archer Daniels Midland in the second quarter valued at $3,409,089,000. California State Teachers Retirement System increased its position in Archer Daniels Midland by 7,551.0% during the second quarter. California State Teachers Retirement System now owns 42,784,458 shares of the company’s stock worth $3,268,733,000 after purchasing an additional 42,225,256 shares during the last quarter. Norges Bank purchased a new position in Archer Daniels Midland during the fourth quarter worth approximately $402,743,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Archer Daniels Midland by 3,379.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,761,397 shares of the company’s stock valued at $316,525,000 after acquiring an additional 5,595,801 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Archer Daniels Midland by 831.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,592,030 shares of the company’s stock valued at $321,486,000 after acquiring an additional 4,991,550 shares during the period. Hedge funds and other institutional investors own 78.28% of the company’s stock.
Archer Daniels Midland Stock Up 2.3%
Shares of NYSE:ADM opened at $86.47 on Thursday. The company has a market capitalization of $41.68 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 2.58 and a beta of 0.62. The company has a 50 day moving average of $81.49 and a two-hundred day moving average of $76.71. Archer Daniels Midland Company has a 52-week low of $55.58 and a 52-week high of $88.46. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.27.
Archer Daniels Midland Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 19th were issued a $0.52 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. Archer Daniels Midland’s payout ratio is currently 56.99%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on Archer Daniels Midland from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, June 15th. 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. Morgan Stanley raised shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $60.00 to $79.00 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. Finally, Barclays boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.67.
Read Our Latest Analysis on Archer Daniels Midland
About Archer Daniels Midland
Archer Daniels Midland Company (NYSE: ADM) is a global agricultural origination and processing company. Founded in 1902, ADM connects farmers and agricultural markets with food, beverage, animal nutrition and industrial customers by sourcing, transporting, storing and processing crops and other agricultural commodities.
The company’s operations include the processing of oilseeds such as soybeans, canola and sunflower seeds into vegetable oils, protein meals and other ingredients. ADM also produces corn and wheat-based sweeteners, starches, flours, fibers and other carbohydrate products, along with plant-based proteins, flavors, emulsifiers and specialty ingredients used in food and beverage manufacturing.
ADM serves customers in markets around the world through its agricultural services, commodity merchandising, transportation, processing and storage networks.
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