Concurrent Investment Advisors LLC Sells 7,360 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Concurrent Investment Advisors LLC reduced its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 40.0% in the 1st quarter, Holdings Channel reports. The firm owned 11,049 shares of the company’s stock after selling 7,360 shares during the period. Concurrent Investment Advisors LLC’s holdings in Archer-Daniels-Midland were worth $694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cherry Tree Wealth Management LLC acquired a new position in shares of Archer-Daniels-Midland in the first quarter worth approximately $27,000. EdgeRock Capital LLC bought a new position in Archer-Daniels-Midland during the 4th quarter worth approximately $35,000. Sachetta LLC acquired a new position in shares of Archer-Daniels-Midland in the 4th quarter worth approximately $38,000. Rise Advisors LLC bought a new stake in shares of Archer-Daniels-Midland in the 1st quarter valued at $34,000. Finally, BOK Financial Private Wealth Inc. bought a new position in Archer-Daniels-Midland during the first quarter worth $34,000. Institutional investors own 78.28% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup dropped their price target on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.43.

Insider Activity

In related news, insider Fruit Molly L. Strader sold 6,904 shares of the company’s stock in a transaction on 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 directly owns 8,555 shares in the company, valued at $519,545.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Price Performance

ADM stock traded down $0.88 during mid-day trading on Monday, reaching $63.40. 2,801,463 shares of the company traded hands, compared to its average volume of 5,216,791. The company has a fifty day moving average price of $61.46 and a 200-day moving average price of $60.52. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $87.30. The company has a market capitalization of $31.35 billion, a P/E ratio of 11.21 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.88.

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

Archer-Daniels-Midland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were paid a $0.50 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.15%. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

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.