Voya Investment Management LLC cut its stake in Archer Daniels Midland Co (NYSE:ADM) by 0.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 256,941 shares of the company’s stock after selling 695 shares during the quarter. Voya Investment Management LLC’s holdings in Archer Daniels Midland were worth $10,553,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in ADM. Steward Partners Investment Advisory LLC purchased a new position in Archer Daniels Midland in the 2nd quarter valued at about $31,000. Hartford Financial Management Inc. boosted its holdings in Archer Daniels Midland by 125.0% in the second quarter. Hartford Financial Management Inc. now owns 900 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the last quarter. Coastal Capital Group Inc. acquired a new stake in Archer Daniels Midland during the 2nd quarter valued at approximately $41,000. Bartlett & Co. LLC grew its stake in Archer Daniels Midland by 187.4% during the 3rd quarter. Bartlett & Co. LLC now owns 1,006 shares of the company’s stock valued at $41,000 after purchasing an additional 656 shares in the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in Archer Daniels Midland during the 2nd quarter worth approximately $43,000. 76.92% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on ADM shares. Robert W. Baird set a $48.00 target price on Archer Daniels Midland and gave the company a “buy” rating in a research note on Monday, August 26th. Stephens initiated coverage on shares of Archer Daniels Midland in a research note on Monday, October 7th. They issued an “overweight” rating and a $50.00 price target for the company. ValuEngine raised shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, Credit Suisse Group lowered their price objective on Archer Daniels Midland from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.43.
NYSE:ADM opened at $42.92 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average of $42.05 and a 200-day moving average of $40.44. The firm has a market capitalization of $23.90 billion, a PE ratio of 12.26 and a beta of 1.07. Archer Daniels Midland Co has a 52 week low of $36.45 and a 52 week high of $47.16.
Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. The business had revenue of $16.73 billion during the quarter, compared to analyst estimates of $16.18 billion. Archer Daniels Midland had a return on equity of 8.06% and a net margin of 1.85%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, analysts predict that Archer Daniels Midland Co will post 2.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, November 20th. Archer Daniels Midland’s payout ratio is 40.00%.
About Archer Daniels Midland
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
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