New York Life Investment Management LLC Has $6.04 Million Stake in Archer-Daniels-Midland Company (NYSE:ADM)

New York Life Investment Management LLC cut its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,627 shares of the company’s stock after selling 41,660 shares during the period. New York Life Investment Management LLC’s holdings in Archer-Daniels-Midland were worth $6,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ADM. Northern Trust Corp boosted its holdings in Archer-Daniels-Midland by 1.9% during the third quarter. Northern Trust Corp now owns 13,303,791 shares of the company’s stock worth $1,003,372,000 after purchasing an additional 252,486 shares during the last quarter. Morgan Stanley boosted its stake in shares of Archer-Daniels-Midland by 41.8% during the 3rd quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock worth $651,737,000 after buying an additional 2,547,232 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Archer-Daniels-Midland by 5.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,696,394 shares of the company’s stock valued at $278,779,000 after acquiring an additional 195,255 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Archer-Daniels-Midland by 31.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,864,305 shares of the company’s stock worth $216,026,000 after purchasing an additional 683,984 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Archer-Daniels-Midland by 33.8% during the 3rd quarter. LSV Asset Management now owns 2,395,296 shares of the company’s stock worth $180,653,000 after purchasing an additional 605,696 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Performance

ADM opened at $59.19 on Friday. The firm has a market cap of $29.27 billion, a P/E ratio of 10.38 and a beta of 0.78. The business’s fifty day moving average is $59.52 and its 200-day moving average is $64.85. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $87.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.95 and a current ratio of 1.47.

Archer-Daniels-Midland (NYSE:ADM) last issued its earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The company had revenue of $21.85 billion during the quarter, compared to analysts’ expectations of $22.26 billion. Archer-Daniels-Midland had a net margin of 3.32% and a return on equity of 13.87%. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. Sell-side analysts expect that Archer-Daniels-Midland Company will post 5.48 EPS for the current fiscal year.

Archer-Daniels-Midland announced that its board has authorized a share buyback program on Tuesday, March 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Archer-Daniels-Midland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 35.09%.

Analysts Set New Price Targets

ADM has been the topic of several analyst reports. BMO Capital Markets dropped their price target on shares of Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 13th. Citigroup lifted their price target on Archer-Daniels-Midland from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group lowered Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $67.00 in a research note on Monday, January 22nd. Argus downgraded Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Roth Mkm cut Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and dropped their price target for the company from $98.00 to $66.00 in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.50.

Archer-Daniels-Midland Company 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.