Avidian Wealth Solutions LLC Sells 986 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Avidian Wealth Solutions LLC cut its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 7.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,768 shares of the company’s stock after selling 986 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Archer-Daniels-Midland were worth $802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADM. Schroder Investment Management Group raised its holdings in Archer-Daniels-Midland by 3.1% in the 3rd quarter. Schroder Investment Management Group now owns 73,722 shares of the company’s stock worth $5,560,000 after purchasing an additional 2,190 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Archer-Daniels-Midland by 27.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 33,754 shares of the company’s stock worth $2,546,000 after purchasing an additional 7,247 shares during the period. Morgan Stanley increased its stake in Archer-Daniels-Midland by 41.8% in 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 in the last quarter. Belpointe Asset Management LLC purchased a new stake in Archer-Daniels-Midland in the 3rd quarter worth $337,000. Finally, Orion Capital Management LLC purchased a new stake in Archer-Daniels-Midland in the 3rd quarter worth $28,000. 78.28% of the stock is owned by institutional investors.

Insider Activity at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $60.73, for a total value of $419,279.92. Following the completion of the transaction, the insider now owns 8,555 shares in the company, valued at $519,545.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Archer-Daniels-Midland Stock Up 1.8 %

ADM stock traded up $1.11 during trading on Wednesday, hitting $64.24. 3,882,678 shares of the company’s stock traded hands, compared to its average volume of 5,271,559. The firm has a market capitalization of $31.76 billion, a P/E ratio of 11.07 and a beta of 0.74. The business has a fifty day simple moving average of $61.15 and a two-hundred day simple moving average of $60.68. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. Archer-Daniels-Midland had a net margin of 3.32% and a return on equity of 13.87%. The business had revenue of $21.85 billion for the quarter, compared to analyst estimates of $22.26 billion. During the same period in the previous year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. Sell-side analysts anticipate that Archer-Daniels-Midland Company will post 5.56 EPS for the current year.

Archer-Daniels-Midland declared that its board has authorized a stock repurchase program on Tuesday, March 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Archer-Daniels-Midland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Thursday, May 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.11%. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ADM shares. Citigroup raised their price objective on Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group dropped their price target on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, March 13th. BMO Capital Markets dropped their price target on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Finally, Bank of America dropped their price target on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat, Archer-Daniels-Midland has a consensus rating of “Hold” and an average price target of $67.50.

About Archer-Daniels-Midland

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.