CANADA LIFE ASSURANCE Co Increases Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

CANADA LIFE ASSURANCE Co increased its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 45.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 497,992 shares of the company’s stock after buying an additional 156,467 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.10% of Archer-Daniels-Midland worth $31,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Archer-Daniels-Midland by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 67,826,217 shares of the company’s stock valued at $4,260,165,000 after purchasing an additional 7,320,289 shares during the last quarter. Wellington Management Group LLP grew its stake in Archer-Daniels-Midland by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 15,325,806 shares of the company’s stock valued at $1,106,830,000 after purchasing an additional 1,532,284 shares during the last quarter. First Trust Advisors LP grew its stake in Archer-Daniels-Midland by 3.5% during the 4th quarter. First Trust Advisors LP now owns 6,488,389 shares of the company’s stock valued at $468,591,000 after purchasing an additional 217,459 shares during the last quarter. Norges Bank acquired a new position in shares of Archer-Daniels-Midland in the 4th quarter valued at about $420,457,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Archer-Daniels-Midland by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,043,862 shares of the company’s stock valued at $292,050,000 after buying an additional 244,765 shares during the period. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Price Performance

Shares of Archer-Daniels-Midland stock traded up $1.14 during mid-day trading on Thursday, reaching $63.79. 936,897 shares of the stock traded hands, compared to its average volume of 5,034,225. The business has a 50-day moving average of $61.83 and a 200 day moving average of $60.14. Archer-Daniels-Midland Company has a fifty-two week low of $50.72 and a fifty-two week high of $87.30. The stock has a market capitalization of $31.54 billion, a PE ratio of 11.09 and a beta of 0.74. 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 (NYSE:ADM) last announced its earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The business had revenue of $21.85 billion during the quarter, compared to analysts’ expectations of $22.26 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. The business’s revenue was down 9.2% compared to the same quarter last year. On average, analysts predict that Archer-Daniels-Midland Company will post 5.56 EPS for the current year.

Archer-Daniels-Midland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were given a $0.50 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.14%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 35.09%.

Analyst Ratings Changes

Separately, Citigroup decreased their price objective on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.43.

Insider Activity

In other news, insider Fruit Molly L. Strader sold 6,904 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total value of $419,279.92. Following the completion of the sale, the insider now directly owns 8,555 shares in the company, valued at $519,545.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

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.