New York State Common Retirement Fund Sells 57,636 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

New York State Common Retirement Fund cut its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 764,674 shares of the company’s stock after selling 57,636 shares during the period. New York State Common Retirement Fund’s holdings in Archer-Daniels-Midland were worth $55,225,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ADM. Morgan Stanley increased its position in shares of Archer-Daniels-Midland by 41.8% during the third quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock valued at $651,737,000 after buying an additional 2,547,232 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Archer-Daniels-Midland by 27,778.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,009,197 shares of the company’s stock worth $76,114,000 after buying an additional 1,005,577 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Archer-Daniels-Midland by 31.4% in the third quarter. AQR Capital Management LLC now owns 2,864,305 shares of the company’s stock worth $216,026,000 after buying an additional 683,984 shares in the last quarter. LSV Asset Management lifted its stake in shares of Archer-Daniels-Midland by 33.8% in the third quarter. LSV Asset Management now owns 2,395,296 shares of the company’s stock worth $180,653,000 after buying an additional 605,696 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its stake in shares of Archer-Daniels-Midland by 150.1% in the third quarter. Nomura Holdings Inc. now owns 171,629 shares of the company’s stock worth $12,944,000 after buying an additional 513,903 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Down 1.1 %

Shares of ADM stock opened at $61.80 on Wednesday. Archer-Daniels-Midland Company has a 12 month low of $50.72 and a 12 month high of $87.30. The stock has a market cap of $31.01 billion, a P/E ratio of 9.66 and a beta of 0.77. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. The company has a 50 day simple moving average of $58.64 and a two-hundred day simple moving average of $65.40.

Archer-Daniels-Midland (NYSE:ADM) last announced its earnings results on Tuesday, March 12th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.07). Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The business had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $23.79 billion. During the same period in the prior year, the company posted $1.93 earnings per share. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. On average, research analysts expect that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current year.

Archer-Daniels-Midland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 8th were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 7th. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.24%. Archer-Daniels-Midland’s dividend payout ratio is 31.25%.

Archer-Daniels-Midland announced that its Board of Directors has initiated a share buyback program on Tuesday, March 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

ADM has been the topic of several analyst reports. BMO Capital Markets dropped their target price on shares of Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 13th. Robert W. Baird downgraded shares of Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $96.00 to $61.00 in a research note on Monday, January 22nd. Barclays downgraded shares of Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research report on Monday, January 22nd. Jefferies Financial Group lowered their price objective on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, March 13th. Finally, Argus downgraded shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat, Archer-Daniels-Midland currently has an average rating of “Hold” and an average target price of $67.50.

Archer-Daniels-Midland Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.